The Pakistan Stock Exchange (PSX) reached a new milestone on Wednesday, with the KSE-100 index violating the 121,000-point brand for the first time during the negotiation per day.
The index stood at 121,690.71, winning 1,239.84 points or 1.03% at the time of presenting this report.
The highest point reached during the session so far was 121,736.39, while the lowest was 120,896.13. The total negotiation volume was located at 218,586,173 shares, with a transaction value of 18,626,764,104. The previous closure was 120,450.87.
The positive impulse in the PSX follows the recent approval of a financial package of $ 800 million by the Asian Development Bank (ADB) for Pakistan under the Resource Mobilization Reform Program (Subprogram-II).
Read more: ADB approves a financial package of $ 800 million for Pakistan
The package consists of a policy -based loan (PBL) of $ 300 million and a programs -based guarantee (PBG) of $ 500 million, which has helped reinforce 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 that sought time to evaluate loan documents, exposing failures in the lender’s rules book that allows such extensions.
Earlier on Tuesday, the PSX also saw a record closure, with the KSE-100 index ending at 120,450.87, marking its first closure above the threshold of 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 intradic maximum of 120,693.83 and a minimum of 119,129.51. The negotiation volume that day was 315,235,806 shares, with a total value of 20,897,236,653. According to reports, Tuesday’s profits were attributed to positive feelings in the market before the budget announcement of this month.
Despite a strong decrease in the market earlier for the week, which saw that the KSE-100 index decreased by 813 points (0.68%) on Monday due to concerns about the proposed fiscal increases and inflation, the highest records reflect the confidence of renewed investors as the country’s budget approaches.
