The Pakistan Stock Exchange opened the week on Monday with a big bang as the KSE-100 index soared by over 400 points before noon, reported 24NewsHD TV channel.

The benchmark 100-index was trading at 45,732, up by 419 points as there appeared to be a new buying interest in the market.

During the previous week, the stock exchange remained under severe pressure and witnessed a drastic drop due to heavy selling on worries about rupee’s depreciation and fears of further increase in interest rate.

The benchmark KSE-100 index plunged by 2,358.56 points on week-on-week basis and closed at 45,312.66 points.

However, buying was witnessed in index-heavy sectors on Monday with automobile assemblers, cement, chemical, commercial banks, oil and gas exploration companies and OMCs trading in positive.

 

Reporter Ashraf Khan