Staff Reporter Karachi
The Pakistan Stock Exchange (PSX) on Monday reversed its trend after six straight sessions in the negative and the benchmark KSE-100 index once again surpassed the 46,000 point mark.
The bourse displayed bullish tendency on the back of encouraging remittances data announced by the State Bank of Pakistan (SBP) as inflows exceeded $2 billion for the eighth consecutive month in January 2021.
A handsome increase in the large-scale manufacturing index (LSMI), which recorded a growth of 11.4% in December 2020, coupled with strengthening of the rupee against the US dollar kept the investment climate upbeat.
Investors also cheered rising oil prices in the international market and the quarterly results announced by Engro Fertilisers, which kept exploration and production and fertiliser sectors in the positive.
At close, the benchmark KSE-100 index recorded an increase of 567.23 points, or 1.24%, to settle at 46,375.59 points.
