PSX rebounds over 1,000 points on oil price fall
The Pakistan Stock Exchange (PSX) saw a significant rebound, with the KSE-100 index rising over 1,000 points following a decline in international oil prices. Despite this recovery, the market remains in a broader downtrend for the calendar year.
Why it matters
Fluctuations in the PSX reflect the economic stability of Pakistan and the impact of global energy prices on emerging markets.
--> Home Business PSX rebounds over 1,000 points on oil price fall Buying returns to KSE-100 index, led by energy and bank stocks
facebook --> twitter --> whatsup --> linkded --> email MORE (3) Messenger Whatsapp --> PSX bullish KARACHI: Pakistan Stock Exchange (PSX) recovered on Thursday as a dip in international oil prices improved risk appetite, lifting the benchmark KSE-100 index over 1,000 points to around 169,050.
At the close of trading, the KSE-100 index posted a rise of 1,021.40 points, or 0.61%, and settled at 169,043.20.
Pakistan's stock market found modest relief after a correction in oil prices lifted risk appetite, noted Arif Habib Limited (AHL). The KSE-100 closed up 1,021 points. Market breadth was constructive, with 72 shares advancing and 27 declining.
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