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PSX Maintains Bullish Trend on Third Consecutive Day

KARACHI: The uptrend at the Pakistan stock market continued for the third successive session on Wednesday as the benchmark index surged 553 points at the close of the day.

In the morning, the KSE-100 index opened on a positive note and maintained the momentum for the entire session, surpassing the 30,000-point mark.

The rebound from the extensive losses recorded in the past week came on the back of efforts made to de-escalate tensions between Pakistan and India. Following the relatively improved situation, the investors jumped to buy stocks as share prices had hit historic lows.

At close, the benchmark KSE 100-share Index recorded an increase of 553 points settles at 30,972 points.

Overall, trading volumes increased to 142.6 million shares compared with Monday’s tally of 102.5 million. The value of shares traded during the day was Rs5.6 billion.

The dollar loses ground by Rs 0.3 against rupees in interbank and closed at 158.57 while dollar prices stable in the open market.

The gold prices decreased by Rs 400 per tola and reached at 88100 per tola,it also downed its value by dollar 4 and reached at 1500 per ounce in the international market.