KARACHI: The Pakistan Stock Exchange (PSX) extended gains on Thursday, with the benchmark KSE-100 index rising about 200 points as a result of a slew of positive triggers.
Pakistan got $3 billion from the Saudi Fund for Development on Wednesday to assist strengthen the State Bank of Pakistan’s foreign reserves, causing the stock market to rise.
Earlier in the day, the index began the day on a strong note, increasing steadily for most of the day. The market came under selling pressure in the middle of the day, wiping off some of the gains.
Furthermore, earlier in the day, strong financial results encouraged the investing mood.
The Pakistani rupee strengthened against the US dollar and made small gains in the interbank market, boosting stock market confidence.
The KSE-100 index increased by 198.82 points, or 0.43 percent, to 45,990.73 points.