KARACHI: On Monday, the Pakistan Stock Exchange (PSX) opened in a green zone in the opening session after a consecutive boorish trend. At 10:45 AM, the benchmark KSE-100 index reached 40,361.46 points after gaining 1.75 per cent or 692.26 points.
Analysts believe that the decision of the government to reduce the circular debt of the gas sector has played a positive role in the market’s upward trajectory.
Raza Jafri, Head of Equity at Intermarket Securities, said that buying interest had been seen in the energy sector because the government had shown a willingness to sort the circular debt issue. He added that news of cash inflow from Saudi Arabia also aided in uplifting the market as the foreign exchange reserves would see a boost.