The Pakistan Stock Exchange (PSX) continued its recovery for the third consecutive day on Friday as the benchmark index rose by more than 350 points.
According to the PSX website, the KSE-100 index gained 398.81 points or (0.64%) to close at 62,451 points.
On Thursday, the Pakistan Stock Exchange (PSX) extended its previous day’s rally and closed above 62,000 with gains of nearly 1,200 points, thanks to significant institutional buying that provided vital support to the market.
Investor optimism prevailed in line with the previous successful session, with power, banking, oil and gas, and cement sectors contributing to the advance of the KSE-100 index.
Apart from institutional interest, continuous recovery of Pakistani rupee and the declining government bond yields aided the market’s uptrend.
Market expert, Yousuf M. Farooq observed that the market bounced back sharply during the last two sessions after a correction.
