Monday, April 15, 2024

Pakistan Stock Exchange (PSX) Gain Over 1,000 Points After Coalition Govt Announcement

After three days of losses, the Pakistan Stock Exchange (PSX) bounced back strongly, thanks to a boost in confidence despite concerns following the recent elections. The main KSE-100 index surged by 926.62 points, ending the day at 62,153.84 points. At its highest point during the day, it reached 62,532.25 points.

Investors are hopeful because the government is expected to announce revised gas prices soon, following recommendations from the Economic Coordination Committee (ECC) and pressure from the International Monetary Fund (IMF). The IMF wants the government to increase gas tariffs by February 15.

Experts think that this positive momentum could push the market to reach between 63,000 and 64,000 points. They highlight how the market has shown resilience despite worries about political uncertainties. Investors are keeping a close eye on these developments to gauge the market’s future performance.

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