Key points
- PSX has gained 2,800 points during opening minutes of trading today
- KSE-100 Index gained 10,123 points on Monday
- Pakistan’s budget will be finalised within the next three to four weeks: Finance Minister
ISLAMABAD: Bullish momentum continued at the Pakistan Stock Exchange (PSX) as investors celebrated the ceasefire between India and Pakistan.
According to the financial daily Business Recorder, the benchmark KSE-100 Index crossed the 120,000 level amid a gain of nearly 2,800 points during the opening minutes of trading on Tuesday.
At 9:30am, the benchmark index was hovering at 120,067.12 level, a gain of 2,769.39 points or 2.36 per cent.
A strong comeback
Earlier on Monday, the stock market staged a strong comeback, driven by a “convergence of positive developments” including a ceasefire agreement between India and Pakistan, as well as the IMF’s approval of crucial funding.
The benchmark KSE-100 Index gained 10,123 points, the highest-ever gain, to settle at 117,297.73. India’s benchmark indexes opened lower on Tuesday, according to Business Recorder.
Reuters cited Pakistan’s Finance Minister Muhammad Aurangzeb as saying that the federal budget for the next financial year, starting July, will be finalised within the next three to four weeks, with scheduled budget talks with the International Monetary Fund (IMF) to take place from May 14-23.
