Bullish trend witnessed in PSX, 100-Index moves above 43,000 points
KARACHI: A bullish trend was witnessed in the Pakistan Stock Exchange (PSX) on Friday, the last trading day of the week.
The benchmark KSE-100 Index witnessed a massive recovery and at the opening bell, the index went up by 638 points to cross the level of 43,000 points.
The market is currently trading at 43,161 points level.
This is the highest level of the 100-Index achieved in the last 17 months in the country’s history.
The PSX and the stocks across the globe lost number of points after Iran attacked US troops in Baghdad, Iraq with ballistic missiles on Wednesday.
However, the investors are gaining their confidence back, especially after US President Donald Trump’s address to his nation in which he ruled out direct military action against Iran.
The Pakistan Stock Exchange Wednesday had witnessed a bearish trend due to panic selling after Iran’s missile attack on US-led forces in Iraq.