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Ishaq Dar factor; KSE-100 index gains 411 points

Zain Aijaz by Zain Aijaz
September 26, 2022
in Business, Featured, Latest News, National, News, Top News
Reading Time: 1 min read
KSE-100 index loses over 600 points in early hour trade

KARACHI: The Pakistan Stock Exchange (PSX) started the week on a positive note amid the strong recovery of the Pakistani rupee, decline in crude oil prices and return of Ishaq Dar as finance minister. By 10:46 AM, the benchmark KSE-100 index had reached 41,031 points after a gain of 1.01 per cent or 411 points.

According to Ahsan Mehanti of Arif Habib Corporations, the stock market showed recovery after the rupee gained against the US dollar. The rupee gained Rs4.15 in value during the early hour trade. He added that Dar’s return would stabilise the uncertainty in the economy.

Pakistan to go back to tried and tested method of Daronomics following Miftah’s exit

Raza Jafri, Research Head of Intermarket Securities, said that multiple factors played role in the recovery of the KSE-100 index. He pointed out that declining oil prices, the perception that Dar would bring PKR under control, and the West acknowledging Pakistan’s debt restructuring request had aided in the recovery at the KSE-100 index.

Zain Aijaz

Zain Aijaz

Zain is a media student and a writer by passion. He is a certified creative writer from Wesleyan University and enthusiastically writes on non-fiction and political satire. He is vastly experienced in the field of theatre and has served as a theatre mentor across different institutions. Currently, he is a contributor at The Upcut and can be reached at zainaijazdehlvi@gmail.com

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