Pakistan Stock Exchange sheds almost 800 points in intraday trading

KARACHI: Pakistan Stock Exchange (PSX) on Tuesday, showed upward trend, as the 100 index gained record 929 points on the very first day of trading in 2019, ARY News reported.

As per details, the first trading day of new year proved to be a good omen for the PSX as it showed positive indicators. The 100 index closed at 37,995 points after gaining 929 points, at the end of the trading here today.

The index closed at 37,995 points. According to dealers of the market, the investors are gaining confidence after the steps that have been taken by the incumbent government, to put country’s ‘ill’ economy back on the track.

The investors hoped that the stock market would recover with expected improvement in the macroeconomic indicators. The biggest challenge to the economy – the current account deficit – has started narrowing down.

“We expect foreign inflows in 2019,” he said. “Rupee adjustment (against the US dollar) was the major concern of foreign investors that has been addressed now,” the dealers said.

Related: Pakistan Stock Exchange sheds almost 800 points in intraday trading

Banks and oil and gas exploration firms, which carry almost 40% weightage in the benchmark KSE-100 index, would help the index perform better in year 2019, analysts said.

The post PSX shows bullish trend, 100 index gains 929 points appeared first on ARYNEWS.

from ARYNEWS http://bit.ly/2CHp9u2
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