Global News

[ad_1] KARACHI: Pakistan Stock Exchange (PSX) maintained its upward march and broke records in the outgoing week when it climbed over 2,000 points as investors cheered reports of encouraging economic and earnings outlook and expected release of the second loan tranche of $700 million by the International Monetary Fund (IMF). A key event was the easing of weekly inflation, measured by the Sensitive Price Indicator (SPI), by 0.06%, which boosted investors’ confidence. During the week, the KSE-100 index crossed the 59,000-point barrier for the first time in history and touched record highs. Among worrying factors for investors was the rupee’s continuous topsy-turvy movement, shrinking foreign exchange reserves and gas tariff hike. At the beginning of the week, the bourse closed with marginal gains amid a range-bound session as uncertainties surrounding the potential hike in industrial gas and power tariffs weighed on investors’ mind, though weaker global crude oil prices prov...

[ad_1] 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...