• Download the Constitution of Pakistan
  • Advertise
Sunday, June 1, 2025
  • Login
NEWSLETTER
ECONOMY
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
ECONOMY
No Result
View All Result
Home All

Bulls toss KSE-100 index over 43,000-mark on positive cues

by News Publishing
August 15, 2022
in All, Business, Economy, New, News
Reading Time: 2 mins read
0
Bulls toss KSE-100 index over 43,000-mark on positive cues
Share on FacebookShare on TwitterLinkedinWhatsapp

Stocks rallied Monday following news of Saudi Arabia’s plans to renew the $3 billion deposit with Pakistan and the hopes of the International Monetary Fund program’s (IMF) revival.

Pakistan Stock Exchange’s (PSX) benchmark index KSE-100 opened today’s trade at 42,857.57 points, however, later it went up by 764.25 points or 1.78% and closed at 43,621.82 points.

Capital market expert Muhammad Saad Ali said rising optimism around the resumption of the IMF program and appreciation of the rupee has improved market sentiments.

Not only did the stocks rally during the intraday trade, but the Pakistani rupee also continued to strengthen against the US dollar for the tenth successive session in the interbank market.

The local unit further gained Rs1.51 after over a week of its uptrend, with the greenback closing at Rs213.98 after its depreciation in the interbank market.

Alpha Beta Core CEO Khurram Schehzad said the stock market was recovering after the confidence of the investors who were earlier jittery was restored.

#Pakistan risk lowered?

Politics stabilized
IMF onboarded
Imports down 38%
Rupee up 10%
Pak eurobond recovered 50%
Friendly countries to invest/fund
Global Oil down 15%/Food 20%
Inflation to slowdown
PakStocks rallied 3,000pts

More positives ahead@FinMinistryPak @StateBank_Pak

— Khurram Schehzad™ (@kschehzad) August 12, 2022
Schehzad said PSX continues its recovery based on the investor confidence being gradually restored on macros getting on track slowly and gradually.

Saudi Arabia is planning to renew the kingdom’s $3 billion deposit with Pakistan, Bloomberg reported, as the cash-strapped country desperately seeks financial assistance.

“The kingdom also plans to provide $100 million a month for 10 months in petroleum products that will be granted as additional support,” the publication quoted the people.

Once the plan becomes official, Pakistan’s $4 billion funding gap a pre-condition of the International Monetary Fund (IMF) will be fulfilled, paving way for the revival of the lender’s program.

The IMF had set a condition that the cash-strapped nation needed to fulfill its $4 billion financing gap for the loans to be disbursed under the combined seventh and eighth reviews.

Minister for Finance and Revenue Miftah Ismail has confirmed that the IMF Executive Board is expected to meet on August 29 for taking up Pakistan’s request to approve the seventh and eighth reviews and release a tranche of $1.17 billion under the Extended Fund Facility (EFF).

“We have received the Letter of Intent (LoI) copy, and we will send it back to the IMF’s executive board on Monday,” the finance minister told The News.

Pakistan received the much-awaited LoI from the IMF Friday, which would be sent back to the Fund’s executive board with the request to revive the stalled program under the EFF.

Tags: EconomyImran KhanKSElatestPakistanPSX
News Publishing

News Publishing

Related Posts

Pakistan unveils first govt-led Strategic Bitcoin Reserve

Pakistan unveils first govt-led Strategic Bitcoin Reserve

by News Publishing
May 29, 2025
0

In a groundbreaking move, Pakistan has officially launched its first government-led Strategic Bitcoin Reserve, marking a significant step in the...

PIA

PIA Class B Shares Jump Rs18,000, PSX Seeks Clarification

by Anum Arif
May 26, 2025
0

Karachi – May 26, 2025:In a startling development during the ongoing privatization efforts of Pakistan International Airlines (PIA), the price...

GDP 2025

Pakistan’s Economy Grows 2.4% in Q3 FY2024-25

by Anum Arif
May 20, 2025
0

Pakistan’s economy posted a gross domestic product (GDP) growth of 2.4% in the third quarter (January–March) of the fiscal year...

Agriculture sector being developed on modern lines: PM

Agriculture sector being developed on modern lines: PM

by News Publishing
May 15, 2025
0

Prime Minister Muhammad Shehbaz Sharif has said agriculture sector is being developed on modern lines to achieve agricultural self-reliance. He...

IMF PAK

Pakistan Gets $1.023B from IMF, Begins 2025-26 Budget Talks

by Anum Arif
May 14, 2025
0

Islamabad – Wednesday, 14 May 2025:The State Bank of Pakistan (SBP) confirmed on Wednesday that it has received the second...

Aurangzeb Minister

Aurangzeb: India Tensions Have Minor Economic Impact

by Anum Arif
May 13, 2025
0

Federal Finance Minister Muhammad Aurangzeb has downplayed concerns over the economic repercussions stemming from recent military tensions between Pakistan and...

Next Post
Ex PM Imran Khan to Address Public Rally In Karachi on August 19

Ex PM Imran Khan to Address Public Rally In Karachi on August 19

About Us

Economy.pk is a source of economic, political, business, finance, health and sports updates.

Important Categories

  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin
  • YouTube
  • Linkedin
  • TikTok
  • WhatsApp
  • About
  • Advertise
  • Careers
  • Contact

© 2024 Economy.pk - Web Development by Digital Otters

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

© 2024 Economy.pk - Web Development by Digital Otters