• Download the Constitution of Pakistan
  • Advertise
Tuesday, June 17, 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

Sindh Unveils Budget 2025-26 with Pay and Pension Increases

Sindh Unveils Budget 2025-26 with Pay and Pension Increases

by Haris Ali
June 13, 2025
0

On June 13, 2025, the Sindh government unveiled the Budget 2025-26, announcing a series of financial relief initiatives for its...

Passenger Car Sales Surge Over 32% in Eleven Months

Passenger Car Sales Surge Over 32% in Eleven Months

by Haris Ali
June 13, 2025
0

In Pakistan, passenger car sales have increased by more than 32 percent, reaching 94,388 units in the first eleven months...

Pakistan, UAE Leaders Vow Stronger Cooperation in Pursuit of Peace and Stability

Pakistan, UAE Leaders Vow Stronger Cooperation in Pursuit of Peace and Stability

by Haris Ali
June 13, 2025
0

Pakistan and the United Arab Emirates (UAE) reaffirmed their commitment to close coordination and cooperation in pursuit of regional peace...

10% Salary Bump, More Pension: Govt Unveils Employee Relief Package

10% Salary Bump, More Pension: Govt Unveils Employee Relief Package

by News Publishing
June 11, 2025
0

The federal cabinet approved a 10% pay raise for federal employees and a 7% pension boost for pensioners during its...

Govt to unveil Rs17.6tr FY26 budget in National Assembly today

Govt to unveil Rs17.6tr FY26 budget in National Assembly today

by News Publishing
June 10, 2025
0

Federal Minister for Finance Muhammad Aurangzeb is scheduled to present the federal budget for the fiscal year 2025–26 in the...

Pakistan likely to unveil Rs17.68 trillion budget 2025-26 on June 10

Pakistan likely to unveil Rs17.68 trillion budget 2025-26 on June 10

by News Publishing
June 4, 2025
0

The Government of Pakistan is expected to present the federal budget for the fiscal year 2025-26 on June 10, with...

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