{"id":42432,"date":"2024-01-01T07:12:05","date_gmt":"2024-01-01T07:12:05","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/psx-surges-by-1800-points-in-intraday-trading\/"},"modified":"2024-01-01T07:12:05","modified_gmt":"2024-01-01T07:12:05","slug":"psx-surges-by-1800-points-in-intraday-trading","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/psx-surges-by-1800-points-in-intraday-trading\/","title":{"rendered":"PSX surges by 1,800 points in intraday trading"},"content":{"rendered":"

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Shares at the Pakistan Stock Exchange (PSX) soared past 1,000 points on Monday during intraday trading in the first session of 2024.<\/p>\n

According to the PSX website<\/a>, the KSE-100 index struck 63,935.56 points at 10am, up 1484.52 points or 2.38 per cent from the previous close of 62,451.04 points. At 11:49am, the index climbed further, by a cumulative 1,808.98, to reach 64,260.02.<\/p>\n

Speaking to Dawn.com<\/em>, Intermarket Securities\u2019 head of equities Raza Jafri said energy stocks opened at a high today with authorities looking serious on addressing circular debt, enabling the KSE-100 to commence 2024 on a positive note.<\/p>\n

\u201cThere are also expectations that institutional money will convert from fixed income towards equities with monetary easing expected within the next few Monetary Policy Committee meetings,\u201d he added.<\/p>\n

Meanwhile, Topline Securities\u2019 chief executive Mohammed Sohail attributed today\u2019s bull run to the release of funds to independent power producers.<\/p>\n

He further stated that the new year allocation to the stock market triggered a rally on the first day of 2024 at the PSX.<\/p>\n

Ali Malik, chief executive of First National Equity, said there was an interest in buying energy stocks as the government aims to counter the circular debt. \u201cThe market looks positive and corrections have already taken place.\u201d<\/p>\n

He added that Pakistan\u2019s macroeconomic factors were improving and the PSX was expected to witness growth in 2024.<\/p>\n\n

More to follow<\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Shares at the Pakistan Stock Exchange (PSX) soared past 1,000 points on Monday during intraday trading in the first session of 2024. According to the PSX website, the KSE-100 index struck 63,935.56 points at 10am, up 1484.52 points or 2.38 per cent from the previous close of 62,451.04 points. At 11:49am, the index climbed further, […]<\/p>\n","protected":false},"author":2,"featured_media":42433,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/i.dawn.com\/large\/2024\/01\/01115111dbbd33b.jpg?r=115126","fifu_image_alt":"","footnotes":""},"categories":[13],"tags":[],"class_list":["post-42432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t