Pakistan Stock Exchange bullish, gains 484 points
Business
Market performance show investors has regained confidence after the IMF deal
KARACHI (Dunya News) – The Pakistan Stock Exchange was continuing with its movement in positive trajectory as the benchmark KSE-100 Index at one point gained 484.25 points in early trading on Wednesday.
By the time of filing this report at 11.25am, the benchmark index was recorded at 43,868.60 with an accumulated gain of 311.59 points during the session. The market had closed at 43,557.01 on Tuesday.
The agreement reached with the International Monetary Fund (IMF) has boosted the investors’ confidence as the rupee is also appreciating against the US dollar – a development that is going to boost economic activity in the country.
On Monday, the stock exchange had witnessed a huge surge – the first working day after the country clinched the $3 billion deal with the IMF – as the benchmark KSE-100 Index gained 2,446 points, closing at 43,899.
On Monday, the stock exchange had witnessed a huge surge – the first working day after the country clinched the $3 billion deal with the IMF – as the benchmark KSE-100 Index gained 2,446 points, closing at 43,899.
As far as the rupee is concerned, the local currency closed the Tuesday’s interbank trading – the first session after the Eid holidays and the IMF deal – at Rs275.44 after going up by Rs10.55 against the US dollar.
Interbank closing #ExchangeRate for today https://t.co/hvtS9Cxq8l#SBPExchangeRate pic.twitter.com/iKvepZnJq6
— SBP (@StateBank_Pak) July 4, 2023
It’s a developing story. Details to follow
