Stock Market adds 300 points ahead of election day

Web Desk
Business
February 9, 2024
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KARACHI: After a long weekend, the stock market continued its momentum from Friday and registered a gain of 265 points in the hour of trading. On Wednesday, the day before the general election, the index continued to show positivity and stability with slow and steady growth.

However, on Friday – after Thursday’s general election – the Pakistan Stock Exchange (PSX) fell 1,405 points during the trading hour.

The index opened at 64,143.87 points at Wednesday’s close. By 10:00 a.m., the KSE-100 benchmark index was at 62,737.99 points.

The index fell further earlier in the day to 61,781.76 points, but started to show recovery soon after the dip.

A large part of the decline in the index was caused by E&P companies, which continued to drag the index down even at noon.

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