PSX surges over 800 points as Pakistan completes last pre-condition for IMF programme
Appreciation of rupee against dollar was also a contributing factor
Published 4 years ago on Aug 4th 2022, 1:13 am
By Web Desk
Karachi: The Pakistan Stock Exchange (PSX) witnessed a positive intraday trade on Wednesday as its benchmark KSE-100 index soared over 850 points to close marginally over 41,000.
The bulls prevailed in the stocks after Islamabad completed the last pre-condition to revive the International Monetary Fund's (IMF) loan programme.
Encouraging financial results, rupee appreciation against the US dollar and an expected decline in oil import bills added fuel to the bullish trend as investors assumed fresh positions.
At close, the benchmark KSE-100 index closed at 41,068.87 points with an increase of 877.26 points or 2.18%.
Policeman martyred in terrorist attack on police vehicle in Bannu
- 10 hours ago
Gervin irked QB Williams filed 'Iceman' trademark
- 14 hours ago
India approves $25bn defence buys, including Russian S-400 missile systems
- 10 hours ago
Sources: Baz, Orioles finalizing 5-year, $68M deal
- an hour ago
NASA wants to put a $20 billion base on the Moon
- 2 hours ago
Yemen's Houthis strike at Israel in their first such attack since Iran war began
- 10 hours ago
Pakistan approves rice, seafood exports to Iran
- 11 hours ago
Kaufman-Renn's tip-in sends Purdue into Elite 8
- 14 hours ago
McGonigle lives up to hype with 4 hits in debut
- 14 hours ago
Peshawar Zalmi defeat Rawalpindi by five wickets in PSL 11 match
- 10 hours ago
What is ICE actually doing at the airport?
- 2 hours ago
Playoff watch: Projecting the Red Wings' postseason chances
- an hour ago
You May Like
Trending
