The Pakistan Stock Exchange (PSX) rallied sharply on Tuesday after the International Monetary Fund (IMF) approved a $1.2 billion loan tranche with the benchmark KSE-100 Index gaining more than 1,100 points.

At close, the benchmark index settled at 169,456.38, up 1153.14 points, or 0.69%.

Buying interest emerged across several key sectors, including cement, commercial banks, fertilizer, oil and gas exploration, OMCs, power generation and refineries. Major index movers such as HUBCO, MARI, OGDC, POL, PPL, MCB, MEBL, NBP and UBL all traded in positive territory.

On Monday, the PSX opened the week on a firm and upbeat footing as equities recorded strong gains across major indices, buoyed by improved investor sentiment and growing institutional participation. The benchmark KSE-100 Index jumped 1,217.67 points to close at 168,303.25.

Meanwhile, the Pakistani rupee inched higher against the US dollar, appreciating 0.06% during early trading in the inter-bank market on Tuesday. By 10am, the local currency stood at 280.23, marking an increase of Rs0.18 against the greenback.

Pakistan targets 300,000 tons in kinnow exports this season

The All Pakistan Fruit and Vegetable Exporters, Importers and Merchants Association has set an export target of 300,000 tons for kinnow this season, which is expected to generate 110 million dollars in foreign exchange. Last season, Pakistan exported 250,000 tons of kinnow, earning 95 million dollars. Exports of kinnow from Pakistan have begun for the current season, with 6,000 tons shipped so far, since December 1, to the Middle East, Sri Lanka, and the Philippines. According to the Association’s Patron-in-Chief, Waheed Ahmed, this season has seen a bumper crop, with total production expected to reach 2.7 million tons compared to […]

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