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Thursday, February 22, 2024  
11 Shaban 1445  

PSX crosses psychological barrier of 64,000

It is trading at 64,340.89 after up by 423.17 points or 0.66%.
A stock broker reacts while monitoring the market on the electronic board displaying share prices during a trading session at the Pakistan Stock Exchange, in Karachi, Pakistan July 3, 2023. Reuters
A stock broker reacts while monitoring the market on the electronic board displaying share prices during a trading session at the Pakistan Stock Exchange, in Karachi, Pakistan July 3, 2023. Reuters

The benchmark index of the stock exchange has passed the psychological barrier of 64,000 points at the beginning of intra-day trading on Thursday.

According to the PSX website, on Wednesday the KSE-100 index closed at 63,917.72 after raising 961.70 points.

In a fresh development, it is trading at 64,340.89 after up by 423.17 points or 0.66%.

The positive trend has been witnessed after the staff-level agreement between Pakistan and the International Monetary Fund (IMF) under Pakistan’s Stand-By Arrangement last month which improved the investors’ sentiments.

Upon approval from the IMF Executive Board, around $700 million will become available bringing total disbursements under the program to almost $1.9 billion.

On the other hand, the US dollar continued sliding against the rupee in the interbank foreign exchange market.

The greenback shed 39 paisas and now trending at Rs283.75

The US dollar continued to dip against the rupee in the interbank foreign exchange market.

US dollar shed 24 paisas to reach Rs284.14 at the closing of the market, as against the closing of Rs284.34 the previous day.

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kse 100 index

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