KARACHI: The Pakistan Stock Exchange (PSX) extended gains on Thursday on the back of a host of positive triggers and the benchmark KSE-100 index gained nearly 200 points.
Pakistan on Wednesday received the $3 billion from the Saudi Fund for Development to help support State Bank of Pakistan’s foreign reserves, which sparked positive momentum at the stock market.
Earlier, trading kicked off on an optimistic note and the index climbed steadily for most part of the day. The market came under selling pressure during mid-day, which wiped off some of the gains.
Moreover, encouraging financial results announced during the day also lent support to the investment climate.
The sentiment at the bourse also improved after the Pakistani rupee recovered against the US dollar and posted partial gains in the inter-bank market.
Benchmark KSE-100 recorded an increase of 198.82 points or 0.43% to settle at 45,990.73.