Midday Report: KSE-100 index up by 411 points

July 05, 2023 (MLN): In the latest development, the Pakistani stock market continues to experience a positive trend owing to investors' IMF-led celebration.

This news has sparked optimism among investors, leading to a large-scale buying of equities. As a result, the KSE-100 Index has gained 414.56 points so far [12:22 PST] and currently trading at the 43,971.58 mark, up by 0.95%.

Sectors propping up the Index were Commercial Banks with 107.58 points, Technology & Communication with 83.61 points, Power Generation & Distribution with 64.87 points, Oil & Gas Marketing Companies with 31.48 points, and Refinery with 26.64 points.

The most points added to the Index were by SYS which contributed 69.51 points followed by UBL with 50 points, PSO with 18 points, and ATRL with 13.32 points.

As a result of the aforementioned development, PSX witnessed a Bull Run with the biggest gain of 2,446.32 points in 15 years on Monday.

However, as the investors at the local bourse preferred to book profits this led the benchmark KSE-100 Index to shed 341.99 points to close yesterday’s trading session at 43,557.01.

The market is still giving bullish signals as the country is heading toward stability.

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