The LSM sector has grown 7.45% in the first eight-month of current fiscal year amid third wave of Covid, according to the Pakistan Bureau of Statistics.
Market watch: KSE-100 skyrockets on earnings optimism
Benchmark index soars 787.78 points to close at 44,741.36
KARACHI:
The Pakistan Stock Exchange (PSX) staged a rebound on Thursday and went north because of overall optimism in the wake of upcoming corporate earnings season.
Investor expectations about strong quarterly financial results and subsiding political uncertainty left a positive impact on activity at the bourse.
Cement and steel stocks were in the limelight during the trading session and both sectors managed to close the session entirely in the positive zone.
Earlier, trading began on a positive note and the KSE-100 index remained on the uptrend throughout the session. A buying spree, emerging in final hours, elevated the gains.
Market watch: KSE-100 slumps as economic unrest rattles market
Benchmark KSE-100 index dives 752.74 points to settle at 43,548.21
KARACHI:
The Pakistan Stock Exchange (PSX) began another week on a bearish note, with the benchmark index plunging over 750 points as the market reacted to developments on the economic and political front.
In the backdrop of a worsening economic scenario, coupled with rising coronavirus cases, the index fell below the 44,000-point mark on Monday. The economic instability following formation of an Economic Advisory Council (EAC) and change of finance minister ahead of budget impacted the investment climate.
In a surprise move, the prime minister on Saturday approved the reconstitution of the EAC but did not appoint former finance minister Shaukat Tarin as its convenor.
Rupee touches 22-month high tribune.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.com.pk Daily Mail and Mail on Sunday newspapers.
The Pakistani currency hit over a one-year high at Rs156.99 against the US dollar in the inter-bank market on Monday, as flow of foreign currencies remained high compared to outflows.