PSX responds high to Govt’s pro-economy steps

• On Thursday, KSE-100 index closed at 30,782 points after increase of 1277 points.
• The swift recovery of capital market in Pakistan was also linked to recovery of the capital markets in many countries.

KARACHI: Pakistan Stock Exchange (PSX) on Friday closed high at 31,621 level  with 839 points gain to its KSE-100 index; showing record recovery on second consecutive day.

On Thursday, KSE-100 index closed at 30,782 points after increase of 1277 points.

Former director PSX and a leading broker Amin Yousuf commented that PSX has positively responded to the Federal Government’s decisions and measures aimed at supporting various economic sectors in the difficult economic situation created by spread of COVID-19 pandemic.  Besides, he said, the swift recovery of capital market in Pakistan was also linked to recovery of the capital markets in many countries and that petroleum prices were also coming up.  At local level, cement sector was also improving.

He was hopeful of further pick up by PSX next week reacting to the expected good package for real estate sector from Prime Minister Imran Khan.