The Pakistan Stock Exchange (PSX) started its week on a positive note, rebounding with a gain of 843 points to reach 78,814, reflecting a 1.08% increase from the previous close of 78,030 points.
This rebound follows a volatile week where the benchmark KSE-100 index fluctuated between red and green zones due to mixed developments.
Read PSX tumbles as KSE-100 index drops by 1,578 points
Last week, the PSX experienced significant volatility as bulls and bears wrestled for control, causing the index to fluctuate sharply.
Despite these efforts, the index failed to maintain the psychological level of 80,000 points, closing the week in the red at slightly above 78,000. The benchmark KSE-100 index recorded a sharp drop of nearly 2,100 points.
However, on July 19, the PSX made new record of all-time high and closed above 81,800 points as investor optimism remained robust.
“Stocks closed at an all-time high as investors weighed Fitch Ratings’ projections of a cut in the SBP policy rate to 14%, economic growth rising to 3.2%, expansion of the agriculture sector, slowdown in inflation and reduction in fiscal deficit to 6.7%,” said Ahsan Mehanti, MD of Arif Habib Corporation.
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