KARACHI (Dunya News) – Pakistan Stock Exchange (PSX) opened positively on Wednesday after the International Monetary Fund reached a staff-level agreement with Pakistan on its loan program, which would allow the country to access $1.2 billion after approval from the fund's board.
During intraday trading, the KSE-100 index surged to 166,795.64, marking an increase of 1,319.62 points or 0.8 percent, compared to previous close of 165,476.02 points.
The bullish trend reflects positive sentiment following the financial deal.
The loan agreement is seen as a crucial step in stabilizing Pakistan's economy, supporting the country's ongoing fiscal reforms and foreign reserves.
A day earlier, the benchmark index turned around to bullish trend, gaining 7,032.60 points, a positive change of 4.44 percent, closing at 165,476.02 points against 158,443.42 points last trading day.
A total of 1,179,987,121 shares were traded during the day as compared to 1,365,703,374 shares the previous trading day, whereas the price of shares stood at Rs 59.201 billion against Rs 62.465 billion on the last trading day.
As many as 483 companies transacted their shares in the stock market, 391 of them recorded gains and 69 sustained losses, whereas the share price of 23 companies remained unchanged.