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Share prices heading to conquer 60,000-mark

By News Desk

November 24, 2023 11:02 AM


Share prices heading to conquer 60,000-mark

Representational image

Share prices at Pakistan Stock Exchange (PSX) soared to a new historic high on Friday amid aggressive buying tossing the 59,000 mark in no time and heading fast to dismantle the 60,000 barrier, reported 24NewsHD TV channel.

As the business was set into motion, there was a buying spree across the board with buyers laying their focus on anything attractive.

The benchmark KSE-100-index surged by 575 points, bulldozing the 59,000 mark. The Index was currently being traded at 59,474.

The market has recorded robust gains throughout the week, thanks to the improving macroeconomic outlook following the successful review of the International Monetary Fund (IMF) programme.

The IMF funds, expected to be issued next month after the lender’s executive board board meeting, are a second tranche of the nine-month bailout package. This will bring total disbursements under the $3bn package, approved in July, to almost $1.9 billion.

 

Reporter Rana Ayaz

 


News Desk


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