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KARACHI: The Pakistan Stock Exchange (PSX) reversed the downtrend, however, uncertainty regarding the International Monetary Fund (IMF) programme made some investors reassess how the economy could perform in the coming months.
Market players are also eyeing the rupee-dollar parity and economic impact of the measures taken by the government to curb surging inflation in the country.
Moreover, the market positively reacted to the news of the Asian Development Bank’s (ADB) plan to provide Pakistan around $10 billion in fresh assistance for various development projects in addition to $700 million financings currently available to procure COVID-19 vaccines.
At close, the benchmark KSE-100 index gained 229.97 points, or 0.50%, to settle at 46,629.88 points.
During the session, shares of 340 listed companies were traded. At the end of the session, 183 stocks closed in the green, 134 in the red, and 23 remained unchanged.
Overall trading volumes dropped to 320.3 million shares compared with Tuesday’s tally of 434.7 million. The value of shares traded during the day was Rs10.6 billion.