Due To The Possible Announcement Of The IMF Deal, PSX Jumps Up By More Than 700 Points

Due to the possible announcement of the IMF deal, PSX jumps up by more than 700 points

PSX was up 786 points, or 1.88 percent, according to the PSX website.

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) was up almost 700 points in afternoon trade on Tuesday, boosted by the prospect of an announcement revealing Pakistan's accord with the International Monetary Fund (IMF) for the release of a $1 billion loan tranche.

At 3:05 p.m., the psx was up 786 points, or 1.88 percent, according to the website.

According to Raza Jaffrey, head of research at Intermarket Securities, the market is experiencing "increasing excitement" on reports that a staff-level agreement with the Fund is on the way.

According to the PSX's weekly report, the KSE-100 index gained 0.30 percent and 126 points in the previous week.

On Friday, the KSE-100 index gained 126 points to close at 42420 points. The stock market's lowest weekly level was 40657. In the previous week, the market saw a total of 870 million stocks acquired and traded.

According to the weekly report, the total business volume was over Rs 26 billion.

Sameer Tahir

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