Fertiliser-led rally sees PSX gain another 1,700 points, surpasses 97,000 mark

Fertiliser drove optimism at the Pakistan Stock Exchange (PSX) on Thursday as shares surged more than 1,700 points, crossing the 97,000 barrier for the first time after a bearish spell the day before. The benchmark KSE-100 index climbed 1499.74 points, 1.57 per cent, to stand at 97,046.19 from the previous close of 95,546.45 points at 1:24pm. Finally, the index closed at 97,328.39 points, up by 1781.94 points or 1.86pc, from the previous close. Awais Ashraf, director research at AKD Securities, said that the benchmark KSE-100 was rallying on the performance of the fertiliser sector. He added that the rally was particularly driven by the unlocking of Fauji Fertiliser Company (FFC) and Fauji Fertiliser Bin Qasim Limited (FFBL) dividends which overshadowed political concerns.