KARACHI: The oil sector businesses’ gain helped the Pakistan Stock Exchange (PSX) conclude the first trading day of the week on a positive note. Tuesday saw more improvements, but not as much as it did yesterday.
The index began the day at 63,939.41 points and dropped sharply to 63,549.60 points, the lowest point of the day, before rising again. The benchmark KSE-100 index gained 492 points during the day and was trading at 64,432.21 points by 2:00 PM.
The energy sector traded mostly in the green throughout the day, although E&P companies continued to be the best performers. But today’s growth rate was slower, and some energy-related companies saw their stock fall into the negative as well.
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Due to geopolitical tensions along the border between Iran and Pakistan, the index experienced significant changes last week. Tensions have started to lessen, though, now that both nations have restored diplomatic ties and reinstated their ambassadors.
The index gained some strength last week thanks to the clearance of the IMF’s next tranche and the Rupee’s rebound.
