PSX rallies with index rising 693 points

Karachi: The Pakistan Stock Exchange is bullish during early trading, with the benchmark SE-100 index gaining 693 points today (Friday).

According to the PSX website, at around 10:45am, the KSE-100 index rose 693 points or 0.89 percent to 78,568, which had closed at 77,874 yesterday.

It is pertinent to note that the benchmark KSE-100 index had increased by 533 points in the early trading on August 7, but this trend could not be sustained and at the end of the session the index lost 76 points or 0.1 percent to 77,114.

On August 5, the benchmark SE-100 index lost 1,141 points, after which the index settled at 77,084.

Earlier on July 31, a decrease of 741 points was seen in the index, while on July 29, the index reached 78,827 after an increase of 798 points or 1.02 percent.

A sharp bearish trend was seen during the last trading day on July 19, when the benchmark KSE-100 index fell by over 1,900 points at one point, however, the index lost 1,721 points to close at 80,117.

On July 13, after the staff-level agreement with the International Monetary Fund (IMF) was reached, the stock market was bullish and on July 15, the KSE-100 index rose 1,211 points to hit a new high of 81,000.

On July 3, the benchmark SE-100 index crossed the psychological threshold of 80,000 points for the first time in history after gaining 680 points.

Earlier, the benchmark KSE-100 index rose 877 points to cross the 77,000 mark for the first time in history on June 14 after the budget was presented on June 12.