KARACHI – Share prices at Pakistan Stock Exchange (PSX) moved up on the first working day of week as the key stock index surged by more than 2,000 points, as the country managed to secure IMF deal.
Pakistan stocks soared drastically with the KSE-100 Index climbing as high as 43,721.92, a spike of nearly 5.5 percent.
Reports in local media suggest that PSX opens at all-time record high, and the hike breached the 5 percent barrier for 5 minutes, triggering a trading stop for some time.
The positive development comes as the country secured a $3 billion short-term financial package from the International Monetary Fund over Eid ul Adha, giving economy a much-awaited respite.
More to follow…
