IMF deal impact: PSX reaches highest level in history, gains over 1,200 points

Karachi: The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index gained over 1,200 points to close above 81,000 on Monday.

After the staff-level agreement with the International Monetary Fund (IMF), the Pakistan Stock Exchange (PSX) witnessed a tremendous boom.

Today, the first day of the business week saw a positive trend in the PSX and at one point the 100 index was seen at a high of 81,306 after a gain of 1,362 points.

It is pertinent to note that two days ago, a staff-level agreement was reached between Pakistan and the IMF, according to which the IMF will provide a loan of $7 billion to Pakistan over a period of 37 months. The final approval of the loan to Pakistan will be given by the Executive Board of the IMF.