PSX recovers in anticipation of Market Support Fund

PSX recovers in anticipation of Market Support Fund

On Wednesday, KSE-100 index observed gain of 1,195.04 points at the close of the trading. Following the upward trend throughout the day, 3.57% recovery (with 34,637.14 points) was recorded at the end of the day.

A total of 203,498,120 shares were traded, whereas the value of shares traded during the day stood at Rs.5.342 billion.

The recovery of the market is said to be in anticipation of the Market Support Fund, which was discussed in a meeting between the Finance Secretary and Stockbrokers and a suggested number of Rs.20 billion was shared by them.

The fund is expected to stabilize the market conditions by buying the shares of State Owned companies, and the current recovery is directly associated with the reports of the fund being in consideration.

I am an accountant with over 3 years of experience in the field of Accounts and Finance. I contribute to e-Syndicate as Researcher and News Writer. I write about Finance, Business, Local Pakistani News and International Finance.