In a significant bullish trend in the Pakistan Stock Exchange, the PSx-100 index crossed and restored an important mark of 65,000 on Wednesday trading.
The 100-index rose 550 points to reach 65005 points with a significant upward trend. Earlier at the start of the trading, 100-Index gained 525 points to reach 64965 points. The news of circular debt reduction boosted the market.
Earlier on Tuesday, shares at the Pakistan Stock Exchange (PSX) traded in the green and gained over 500 points. The index continued its upward trajectory and closed at 64,454.22, up by 514.81 or 0.81pc, from the previous close.
Experts said that the gains were being driven by energy and bank stocks as investors were continuing to hold out hopes for circular debt resolution.
The experts said that the uptick in the market followed media reports indicating the resolution of circular debt, coupled with the commencement of the corporate results season and also credited the rally to the recent country report from the International Monetary Fund (IMF), saying it had propelled market sentiment.
