Monday, November 25, 2024

PSX Benchmark Index Tops 74,000, Up Over 300 Points

The benchmark index of the Pakistan Stock Exchange (PSX) surged by more than 300 points during intraday trading, crossing the significant milestone of 74,000 points.

As per data from the PSX website, the KSE-100 index climbed by 534.74 points, or 0.72%, reaching 74,333.85 levels at 11:26am, up from the previous closing level of 73,799.11.

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Earlier on Monday, the benchmark index briefly breached the 74,000 mark before retracting below it within an hour. Last week witnessed a notable uptick in PSX shares, with a gain of 427 points, propelling the index to a record high of 73,000 points, driven by optimistic projections of inflation declining at a faster pace than anticipated.

This uptrend coincides with ongoing discussions between the government and the International Monetary Fund (IMF) regarding a new bailout package, which the finance minister hinted would be more substantial than previous ones.

During the initial dialogue session, Pakistan assured the IMF of refraining from borrowing from the central bank and committed to meeting all foreign debt obligations promptly.

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Zayn
Zayn
Zain is a dynamic business student with a passion for technology that goes beyond the classroom. When he's not immersed in his studies, Zain can be found playing with the latest gadgets, fueled by a genuine curiosity for emerging tech trends. His love for technology extends to his avid reading habits, where he stays updated on the latest advancements and breakthroughs in the tech world. Despite his academic focus, Zain is also an outdoor enthusiast, always ready for an adventure. With several years of experience in writing news, Zain brings a unique blend of business acumen, tech-savviness, and journalistic expertise to any discussion or project.

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