PSX continues positive momentum as KSE-100 gains 0.58%

The Pakistan Stock Exchange (PSX) continued its positive momentum on Thursday as the benchmark KSE-100 index gained 355.19 points, or 0.58%, closing at the 61,914.34 level. 

As per data available on the PSX website, the benchmark index witnessed fluctuation within a 492-point margin, reaching a peak of 61,952.09 and a trough of 61,460.44 points during the intraday trade.

The sectors that boosted the index were technology & communication, commercial banks, fertilizer, OMCs, and textiles.

Yesterday, the bulls dominated the PSX, with the KSE-100 index surging by 1094.91 points, or 1.81%, to close at 61,559.15 level.

On the political front, arrangements in power circles have paved the way for PML-N’s Shahbaz Sharif to potentially secure a second term as Prime Minister, with the support of coalition partners. Concurrently, Asif Ali Zardari of the PPP is poised to be the coalition’s nominee for the presidency. 

Investors are still anticipating a post-election rally at the PSX, however, market analysts previously recommended that investors should capitalise on the last week's dips to achieve better gains in the future.