PSX kicks off 2022 with 290-point rally

PSX kicks off 2022 with 290-point rally

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Karachi: The Pakistan Stock Exchange (PSX) started the new year with a positive stance on Monday, continuing the momentum of the last few days of December.

The benchmark KSE-100 index, while maintaining its upward march, made a strong advance as investors cheered recovery in Pakistan rupee and developments related to the International Monetary Fund (IMF) stalled programme.

However, the gains remained clipped because of inflation data for December. The Consumer Price Index (CPI) was calculated at 12.3% for December 2021 compared to 11.53% in November 2021, according to the Pakistan Bureau of Statistics.

The rebound in regional and global markets further promoted the upward trend.

Today, the benchmark KSE-100 index rose 290.82 points, or 0.65%, to close at 44,866.89 points.

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