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Bullish trend in PSX as 100-index gains 2126 points
October 27, 2018
KARACHI, Oct 27 (INP) – After weeks bearish trends amid political and economic uncertainty, Pakistan Stock Exchange (PSX) 100-index surged by as much 2126 points in the recently concluded trade week as Saudi Arabia bailed out Islamabad with immediate $6 billion package.
The 100-index managed to close at 40556 points, highest in past three weeks.
As per details garnered, the prices of shares augmented by mammoth Rs327 billion in single week. However, foreign investors sold shares worth $10.72 million.
Economic analyst stated that Saudi Arabia’s package had introduced stability in the market. A financial analyst told Dunya News that Saudi Arabia’s cash and deferred oil payment was far larger than the expectations. On the other hand, Prime Minister Imran Khan’s statement of announcing big news has also bolstered confidence of the investors.
Inp/Khan
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