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PSX is making modest gains in terms of privatizations

KARACHI: Positive momentum continued in the Pakistan Stock Exchange (PSX) on Friday on the back of an improved economic outlook as investors closely watched the government’s discussion on privatization of state-owned enterprises (SOEs). The market was also driven by the uptrend in global equities and the government’s commitment to reduce electricity tariffs. In the morning, trading started with strong buying and the KSE-100 index jumped almost 500 points by the afternoon. It hit an intraday high of 78,914.28, up 565 points. However, profit-taking erased gains, sending the index to an intraday low of 78,439.62. The market rallied towards the close