PSX in recovery mode, gains over 900 points in intraday trade
The Pakistan Stock Exchange (PSX) extended its recovery for the second consecutive day on Thursday, with the benchmark KSE-100 index surging by over 900 points during intraday trading.
As of 10:30 am, the index had gained 957.32 points, reaching 61,820.94 points, reflecting a 1.5% increase from the previous day's close at 60,863.62 points.
The rebound follows a recent significant decline, with investors now showing renewed interest amid expectations of lower interest rates in 2024 and a broader market rating.
Market analysts highlight the valuation gap between Pakistan and other markets, potentially attracting foreign investors.
Despite the recovery, concerns persist about supply chain challenges and the impact of the shipping crisis in the Middle East on international commodity prices and inflation trends in developing countries.
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