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%.
How video games can make young men feel less alone
- an hour ago
North Korea fires ballistic missile, South Korea military says
- 14 hours ago
Our favorite memories at the movies
- 3 hours ago
Five months of war with Iran
- 16 hours ago
Can a different kind of Democrat win the Midwest?
- an hour ago
Abdul El-Sayed’s win tees up the first true swing state test for the Bernie left
- an hour ago
Two of Ring’s latest video doorbells are a lot cheaper than usual
- 3 hours ago
The simple idea that helped prevent millions of traffic deaths
- 16 hours ago
The quiet way Republicans are trying to undo abortion rights again — starting in Kansas
- 16 hours ago
Punjab govt prioritising farmers’ welfare: Salma Butt
- 14 hours ago
Google Assistant will disappear from your phone next month
- 3 hours ago
CDF Munir, Somalia Defence Minister vow to deepen military-to-military ties
- 13 hours ago
You May Like
Trending
