Monday June 27, 2022

PSX Gains 826 Points

KARACHI: After a frantic trading day on Friday, Pakistani stocks recovered ground on Monday, with the benchmark KSE-100 index fluctuating in both directions before finishing up 2.01% to halt the pessimism in the market.

The market took positive cues from the news that $2.3 billion have been deposited in the State Bank of Pakistan (SBP) after Islamabad signed an agreement with the Chinese commercial banks. Moreover, hopes that the multibillion-dollar stalled programme with the IMF will be revived soon gave a much-needed boost to the market.

At close, the benchmark KSE-100 index closed at 41,878.57 points after surging 826.78 points or 2.01%.

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