Recovery in Pakistan Stock Exchange due to rise in KSE 100 index

KARACHI: The benchmark KSE-100 of the Pakistan Stock Exchange Limited (PSX) rose 3275.22 points or 3.46 percent to 98,266.18 points at 12:46 pm.

Chief Executive of Topline Securities Muhammad Sohail said that after the protest of Pakistan Tehreek-e-Insaaf ended in the federal capital, the recovery of stocks in the stock exchange started.

Speaking to the media, CEO Topline added, “Within 10 minutes of trading, the index rallied, recovering the market loss of around Rs 450-500 billion on Tuesday.

Furthermore, Yusuf M. Farooq, director of research at Chase Securities, said, “The market is on the upswing as the government has successfully dispersed the protesters in Islamabad.

He added that the focus “has shifted back to falling interest rates and income growth.”

Besides stressing that retail investors should “look beyond short-term fluctuations and focus on long-term investment strategies, realizing that they are buying shares in well-established Pakistani companies.” have a track record of steadily increasing revenue and payouts,” he said. That Meezan Bank was opened under some pressure when the State Bank of Pakistan imposed a minimum deposit rate for Islamic banks.

According to CEO Topline, it will take a few more days for the market to fully stabilize as investors continued to suffer losses after Tuesday’s market decline.