Analysts attribute surge to investor confidence returning after a sharp correction and positive market sentiment
(Web Desk): The Pakistan Stock Exchange (PSX) witnessed a strong bullish trend on Friday, with the benchmark KSE-100 Index soaring by over 2,900 points.
On the last trading day of the week, the market opened on a positive note with an early gain of 1,602 points, pushing the index to 112,929 points. The bullish momentum continued throughout the session, and the index eventually climbed by a total of 2,924 points, reaching a high of 114,250 points.
This sharp rise follows a recent slump in the market. On Wednesday, the KSE-100 Index had dropped by a staggering 3,545 points, closing at 111,326. The market was closed on Thursday due to Labour Day, and Friday's strong rebound marks a significant recovery.
Analysts attribute the surge to investor confidence returning after a sharp correction and positive market sentiment.
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