Stocks hold gains to cross 45,000 points threshold for first time since May 2018 - The Current
The Current
  • Politics
    • National
    • Foreign
  • Entertainment
  • Lifestyle
    • Health
  • Opinion
    • Editorial
    • Op-ed
  • Business
    • Tech
  • Sports
  • Careers
  • Newsletter
No Result
View All Result
  • Politics
    • National
    • Foreign
  • Entertainment
  • Lifestyle
    • Health
  • Opinion
    • Editorial
    • Op-ed
  • Business
    • Tech
  • Sports
  • Careers
  • Newsletter
No Result
View All Result
The Current
No Result
View All Result

Stocks hold gains to cross 45,000 points threshold for first time since May 2018

News DeskbyNews Desk
2 weeks ago
in Business
0
Stocks hold gains to cross 45,000 points threshold for first time since May 2018
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsApp

The Pakistan Stock Exchange (PSX) gained over 500 points on Wednesday to cross the 45,000-point threshold for the first time since May 2018.

Global equity markets also showed a positive trend. Profit reported that the buying activity was observed across the board. According to the newspaper, “Exploration & production and oil & gas marketing sectors rebounded strongly, whereas cement and fertilizer sectors continued with previous day’s positive momentum.”

“International crude oil prices jumped significantly on the conclusion of agreement among OPEC+ countries, which became the basis for an uptick in E&P stocks. Cement sector leaped on the expectation of an increase in cement price in the northern region, while banking sector contributed positively in anticipation of annual results.”

RELATED STORIES

SBP reserves jump $261m to $13.4bn

SBP reserves jump $261m to $13.4bn

2 weeks ago
PM approves law for chemical castration of rapists

Nothing wrong with U-turns if they don’t ‘compromise ideology’: PM

3 weeks ago

Express Tribune reported that the trading volumes lifted to 664.5million shares due to strong investors’ interest. The market outlook also remained positive due to the government’s decision to settling circular debt with the independent power producers (IPPs), though partially.

Moreover, the petroleum product sales that rose in double digits also helped the bullish trend. “Oil sales were up 16% to 1.59 million tons in December 2020 compared to 1.37 million tons in the same month of 2019,” the report said.

It further stated that the State Bank of Pakistan’s report on the Pakistani economy also played a role in rallying the stock market. According to the central bank, the economic activity in the country has been largely restored to pre-coronavirus levels in the first quarter of the current financial year.

Tags: economyPakistan Stock ExchangePSXstock market

Related Posts

‘Fake pilot licences’: UN staffers asked to avoid Pakistani airlines
Business

‘Fake pilot licences’: UN staffers asked to avoid Pakistani airlines

3 hours ago
Has State Bank really restricted ATM withdrawal limit to Rs1,000?
Business

Has State Bank really restricted ATM withdrawal limit to Rs1,000?

4 hours ago
Next Post

Shaniera Akram pens a love letter for Karachi

ADVERTISEMENT

About Us

The Current is simple, easy and fun. We bring to you news that is woke (new-age term for being alive and alert) and celebrate the fact that hey, you’re not supposed to know everything. We’re here to un-complicate life for you and tell you everything you need to know from politics to entertainment.

In Case You Missed It

‘Ichhra looking hairpiece’: Nabila receives flak for ridiculing local makeup artist’s work

EXCLUSIVE: Hareem Shah reveals why she slapped Mufti Qavi

VIDEO: 50 rare Himalayan ibex spotted in Hunza valley

Imran Ashraf, Sarah Khan shine in ‘Raqs-e-Bismil’

Read By Categories

  • Politics
    • National
    • Foreign
  • Coronavirus Live
  • Entertainment
  • Lifestyle
    • Health
  • Opinion
    • Editorial
    • Op-ed
  • Business
    • Tech
  • Sports

Newsletter

Follow Us

Facebook Twitter Instagram Youtube
  • About Us
  • Privacy Policy
  • Contact Us

© 2020 THE CURRENT. ALL RIGHTS RESERVED.

No Result
View All Result
  • POLITICS
  • – National
  • – Foreign
  • ENTERTAINMENT
  • LIFESTYLE
  • – Health
  • OPINION
  • – Editorial
  • – Op-ed
  • BUSINESS
  • – Tech
  • SPORTS
  • CAREERS
  • Newsletter
Newsletter Popup