PSX gains 230 points on IMF talks


The Pakistan Stock Exchange (PSX) bounced back on Wednesday, with the benchmark KSE-100 Index gaining 229.97 points (+0.5 percent) to close at 46,629.28 points.

The market opened on a positive note and remained positive throughout the session. The main factors behind this buoyancy were Adviser to the PM on Finance and Revenue Shaukat Tarin’s statement that the government-International Monetary Fund (IMF) deal is intact and the negotiations are at an advanced stage, and 9 percent decline in the fiscal deficit, which narrowed down to Rs438.49 billion, during the first quarter of the current fiscal year 2021-22.

The KSE-100 Index moved in a range of 355.4 points, showing an intraday high of 47,755.3 points and a low of 46,399.9 points, the last day closing point.

Among other indices, the KSE All Share Index gained 118 points (+0.37 percent) to close at 31,791.34 points, while All Share Islamic Index gained 131.47 points (+0.58 percent) to close at 22,610.71 points.

A total of 364 companies traded shares in the stock exchange, out of them shares of 193 closed up, shares of 147 closed down while shares of 24 companies remained unchanged.

Out of 95 traded companies in the KSE-100 Index, 59 closed up, 34 closed down and two remained unchanged.—TLTP

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