9 hours Ago By Ishaan Mittal
The Pakistan Stock Exchange surged 997.95 points to 81,459.28 on Thursday owing to a rebalancing of the UK's FTSE and a decline in bond yields.
New Delhi: The Pakistan Stock Exchange closed 998.95 points higher at 81,459.28 on Thursday, compared to 80,461.
33 on Wednesday owing to foreign investment into Pakistan’s equity markets owing to a decline in bond yields. The KSE100 rose 1.24 per cent while the Karachi 30 index was up 1.
37 per cent. The KSE Index rose 0.67 per cent.
The PSX surged on the back of the US Federal Reserve’s 50 bps rate cut and positive cues from Asian peers. Why is the PSX rising? The PSX also jumped on positive macroeconomic data such as a current account surplus, the Dawn Pakistan reported, citing Sana Tawfik, head of research at Arif Habib. Investors were also hopeful of an IMF green signal to a potential bailout deal for Pakistan, she added.
The Asian Development Bank also cleared a $2 billion annual concessionary loan for Pakistan. The loan tenure extends to 2027, the Express Tribune Pakistan reported. The PSX has risen 9.
67 per cent in the past 5 days, and 6.64 per cent in the past 1 month. PSX was up 54.
59 per cent in the past 6 months and over 84 per cent in the past year. Click for more latest Biz news. Also get top headlines and latest news from India and around the world at News9.
.
