Shares at PSX jump over 800 points in early trade – Business

Shares at the Pakistan Stock Exchange (PSX) continued to rally on Thursday, with the benchmark index crossing the key 40,000 points mark.

The KSE-100 index jumped 848.01 points, or 2.13 per cent, to reach 40,632.91 points at 11:30am.

“The KSE-100 has continued its upward momentum, pulled higher by refineries on news that the refinery policy has been finalised. Value buying is also being seen in the banking and cement sectors,” said Intermarket Securities’ Head of Equity Raza Jafri.

The KSE-100 index had shed nearly 2,000 points in the previous week on political instability after Punjab and Khyber Pakhtunkhwa assemblies were dissolved. However, bulls regained control this week on a lower-than-expected increase in the interest rate and expectations that the International Monetary Fund (IMF) programme would be resumed soon.

More to follow.

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