PSE witnessing bullish trend on second consecutive day

KARACHI: Following the upward trajectory a day before, the Pakistan Stock Exchange (PSX) continued its bullish trend on Thursday.

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At the time this report was posted, the benchmark KSE-100 index was up 92.18 points. The current index was 36,051.61 points with a 0.26% change.

On Wednesday, the KSE-100 gained 1,010 points closing just shy of the 36,000 points level. A total volume of 151million shares were traded with a value of Rs7.19billion.

Wednesday’s bullish run came a day after the market was dominated by bears, which dragged it below the 35,000 points.

The KSE-100 closed the outgoing week at 35,703 points, gaining 2,537 points or 7.5%—the biggest increase in the market for over a decade. The gains helped the index recover 40% of its accumulated losses in the previous weeks since fluctuations in the rupee exchange rate and economic uncertainty wreaked havoc in the financial markets.

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