Shares at PSX surge 2,200 points following deal with IMF - SUCH TV
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Following Pakistan's staff-level agreement with the International Monetary Fund (IMF) over the weekend, Pakistan Stock Exchange (PSX) Monday witnessed a bullish trend as the KSE-100 benchmark index gained over 2,200 points. In an extraordinary turn of events, the Pakistan Stock Exchange (PSX) experienced a remarkable surge in its indices on the first working day following the successful conclusion of a highly anticipated $3 billion deal with the International Monetary Fund (IMF). The stock market halted briefly within the first 10 minutes of trading as the KSE30 index soared by an impressive 5%, causing the session to restart later at 10:37 pm. The KSE100 index, a prominent benchmark of market performance, displayed a significant upswing of 2,231.1 points to reach 43,683.78 points. On Friday, IMF reached a staff-level agreement with Pakistan on a $3 billion stand-by arrangement. The international lender said this in a statement – a decision long awaited by the c...