KARACHI: Pakistan Stock Exchange (PSX) was returned to bullish approach and staged a comeback on Tuesday a day after it recorded bearish trend amid uncertainty ahead of the upcoming review of Pakistan’s economic performance by the International Monetary Fund (IMF).
During early trading, the KSE-100 index has gained 870.61 points to reach 158,425.27 points compared to previous close of 157,554.66 points.
The schedule of the second economic review under the IMF’s Extended Fund Facility (EFF) has been finalised, and negotiations for a new $1 billion tranche will take place at the end of this month.
According to sources, the IMF delegation will visit from September 25 to October 8. In the first phase, technical-level talks will be held, followed by policy-level negotiations in the second phase. Discussions will involve the Ministry of Finance, Ministry of Energy, Planning Commission, and the State Bank.
In previous session, the 100-index witnessed bearish trend, losing 482.71, showing an increase of 0.31 percent, closing at 157,554.66 points against 158,037.37 points on the previous trading day.
A total of 1,665,972,171 shares valuing Rs.60.902 billion were traded during the day as compared to 2,047,812,574 shares valuing Rs. 69.273 billion on the last trading day, showing an increase in both volume and value.
As many as 483companies transacted their shares in the stock market; 209 recorded gains and 252 sustained losses, whereas the share prices of 22 remained unchanged.
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