Pakistan Stock Exchange (PSX) rises more than 1,000 points following Coalition Government announcement

Following three consecutive days of declines, the Pakistan Stock Exchange (PSX) made a strong recovery, fueled by renewed confidence despite lingering concerns stemming from recent elections. The primary KSE-100 index saw a significant surge of 926.62 points, concluding the day at 62,153.84 points, with its peak touching 62,532.25 points.

Investor sentiment has been buoyed by anticipation surrounding the forthcoming announcement of revised gas prices by the government. These revisions are expected to align with recommendations from the Economic Coordination Committee (ECC) and under pressure from the International Monetary Fund (IMF), which is advocating for gas tariff hikes by February 15.

Industry experts foresee this optimistic trend potentially propelling the market to levels between 63,000 and 64,000 points. They emphasize the market’s resilience in the face of political uncertainties and highlight investor vigilance as they monitor these developments to assess future market dynamics.

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