BUSINESS/FINANCE
PSX saw a positive turnaround after a turmoil a day ago
The Pakistan Stock Exchange (PSX) on Tuesday saw a positive turnaround after a turmoil a day ago. The KSE-100 index registered an increase of 162 points in early morning trade and reached the level of 78,777 points.
The PSX had witnessed a downturn on Monday as the KSE-100 index lost 282 points to close at 78,615 points. The negative sentiment was triggered by uncertainty about the IMF’s (International Monetary Fund) approval of Pakistan’s Rs2.8 trillion funding plan to address the circular debt crisis.
Moreover, possible policy rate reduction by the State Bank of Pakistan (SBP) later this week added to the worries of investors who remained at sidelines.