The Pakistan Stock Exchange (PSX) has taken a new stage on Wednesday, the KSE-100 index reaching the 121,000 points mark for the first time during the intra-day negotiation.
The index was 121,690.71, winning 1,239.84 points or 1.03% at the time of filing this report.
The highest point reached so far was 121,736.39, while the lowest was 120,896.13. The total negotiation volume was 218,586,173 shares, with a transaction value of 18,626,764,104. The previous fence was 120,450.87.
The positive impetus of the PSX follows the recent approval of a financial ensemble of $ 800 million by the Asian Development Bank (BAD) for Pakistan as part of the Reform of Resources Program (Subprogram-II).
Read more: ADB approves the financial package of $ 800 million for Pakistan
The package consists of a loan -based loan (PBB) of $ 300 million and a program guarantee (PBG) based on a program of $ 500 million, which has helped strengthen the feeling of investors.
Previously, ADB had postponed the approval of a financing package of $ 800 million for Pakistan for five days at the request of India which requested time to assess the loan documents, exposing faults in the lender’s rules of rules which allows such extensions.
Earlier Tuesday, the PSX also saw a record closure, the KSE-100 index ending at 120,450.87, marking its first closure above the 120,000 points.
Read also: PSX closes above 120,000 points for the first time
The market won 1,573.07 points, or 1.32%, during the session, reaching an intra-day summit of 120,693.83 and a minimum of 119,129.51. The volume of negotiation that day was 315,235,806 shares, with a total value of 20,897,236,653. Tuesday gains would have been allocated to positive feelings on the market before this month’s budgetary announcement.
Despite a sharp drop in the market earlier in the week, which saw the KSE-100 index drop by 813 points (0.68%) on Monday due to the concerns about the proposed tax increases and inflation, the record summits reflect the renewed trust of investors as the country’s budgetary approaches.
