Karachi: Karachi: The Pakistan Stock Exchange (PSX) reached a new peak on Tuesday as it faced 54,000 hurdles in the hope of positive results from ongoing talks with the International Monetary Fund (IMF) Crossed.
The KSE-100 Index continued its fast for the third day in a row and rose 417.69 or 0.78% during intra-day trading to 54,278.05 points.
KSE-100 Index 10:00 a.m. — PSX
KSE-100 Index 10:00 a.m. — PSX
Samiullah Tariq, Pakistan’s Kuwaiti head of research, told Geo.tv: “The decline in monetary policy rates and strong profit expectations of companies are among the driving forces that pushed the KSE-100 forward.”
This increase was also due to the announcement of the general election as investors hoped for much-needed political stability in the country.
The IMF review mission is currently in Pakistan, which will complete the first review under the $ 3 billion loan program and by the end of the second review of $ 700 million Episode is likely to be released December 2023.
This installment will pass if both parties can agree on a staff level at the end of the negotiations.
The day before, PSX had added 737.33 points or 1.39% to close at 53,860.37 points.
