KARACHI: The benchmark index of the Pakistan Stock Exchange (PSX) continued its bullish run on Monday, the first day of the business week, to cross the 62,000 barrier at a record high.
The benchmark KSE-100 index had sustained its rally over the past two weeks, which analysts had attributed to attractive valuations and the successful conclusion of a staff-level deal with the International Monetary Fund (IMF).
The KSE-100 index’s trade volume increased by 688 points, trading at 62,380 at 09:39am.
Read more: PSX weekly report: KSE-100 index gains by 126 points
Earlier it emerged that the the IMF executive board is likely to approve the staff-level agreement with Pakistan on December 07.
The IMF executive board meeting will likely be held on December 7 and is expected to consider Pakistan’s case in the meeting.
Sources said that after the approval from IMF’s Executive Board around US$700 million will be available to Pakistan, bringing total disbursements under the program to almost US$1.9 billion.
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