KARACHI: Bulls have taken control of the Pakistan Stock Exchange (PSX) as their roars are being heard every where and bullish trend on the opening hours on Thursday have jumped the benchmark KSE-100 index was hovering at 120,617.78 points after an increase of 686.33 points.
Across-the-board buying was observed in key sectors including automobile assemblers, commercial banks, oil and gas exploration companies, OMCs, power generation and technology.
Besides, index-heavy stocks including HUBCO, MARI, POL, PSO, MCB, MEBL and NBP traded in the green.
It must be remembered that the PSX staged a good recovery on Wednesday driven by confident investors who remained optimist with the upcoming budget, expecting relief for the industrial sector.
The benchmark KSE-100 Index was closed at 119,931.5 points after gaining 960 points.
It must be remembered that the PSX faced ups and downs during early trading on Tuesday.
The KSE-100 index began on a positive note but later dipped a bit to 119,106 after losing 500 points.
At the end of the day, the index closed at 118,971 after losing 718 points. The decline is attributed to investors’ cautious approach ahead of the budget.
Meanwhile, the overall situation improved in the past few days.
During early hours of trading on Monday, the KSE-100 index gained 600 points and reached 120,285.
The PSX staged a comeback after recent geopolitical tensions, which rattled the business activity. As the dust settled after the ceasefire and other positive economic indicators surfaced, investors regained confidence.
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