KARACHI – Bulls propelled shares at the Pakistan Stock Exchange (PSX) above the 114,000 mark on Friday amid aggressive buying by investors.
At 10:51am, the benchmark KSE-100 index has climbed 1,768.05 points, or 1.56%, to reach 114,974 points in intraday trading.
A day earlier, the index surged by 1,719.04 points or 1.54 percent and closed at 113,206.40 points after it ended the three-day losing streak.
Experts have attributed the ongoing positive sentiments to IMF’s proposal for decreasing circular debt of gas sector and the interest showed by the US business for investment in Pakistan.
On January 29, the head of a US business delegation expressed his intention to invest billions of dollars in Pakistan across various sectors such as real estate, energy and others.
Gentry Beach, while talking to media in Islamabad, said US President Donald Trump believed in economic diplomacy. “We are seeing global opportunities in Pakistan,” he said.
He said the Trump Administration and the Pakistan government are very much aligned on the issue of economic development and prosperity.
