Incentive package accelerates PSX’s bullish trend
KARACHI – Pakistan Stock Exchange (PSX) is continuing its bullish run after announcement of Rs180 billion bailout-cum-incentive package by Prime Minister Nawaz Sharif aimed at uplifting the declining exports.
Packages was announced soon after Pakistan Bureau of Statistics (PBS) issued data narrating alarming decline of 4pc in country’s exports in July-Dec 2016.
PSX on Wednesday has so far inducted massive 349 points. 100-index is currently floating at 49,244 points.
Textile sector is performing exceptionally well where hike has been observed in shares of almost all companies
Oil and gas sectors are rallying following a recovery in energy prices whereas expedition of infrastructure projects has buttressed hike in price of shares of registered cement manufacturing companies.
It may be recalled that PSX had been declared Asia’s best by various international fiscal and monetary institutions last year.