Stocks on PSX see over 400 point rise in intraday trading – Business

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The Pakistan Stock Exchange (PSX) saw a rebound on Wednesday as the KSE-100 index gained over 400 points in early morning trade. The market had experienced a major decline on Tuesday, attributed to investor concerns over political and security unrest. However, today’s gain of 426.48 points, or 0.69%, saw the KSE-100 index standing at 62,268.22. The rebound was attributed to an ease in foreign selling, making the valuations more attractive for investors. Additionally, the scheduled liquidation of multiple ETFs, including in Pakistan, caused a temporary fall in the capital markets. With the ETF liquidation almost complete, the market is expected to recover going forward, especially with strong earnings growth expected in multiple sectors.

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