The 2 months bearish dip at the Pakistan Stock Exchange (PSX) came to a halt on Wednesday as bulls staged a return after the KSA Fund for Development said it was depositing $3 billion in State Bank of Pakistan (SBP) to aid its foreign reserves.
KSE-100 recorded an increase of points 1.25% to settle at 45,791.92.
Investor contribution revived at the bourse and widespread Cherry flicking in several sectors triggered a horse race. Buoyed by the recent dip, share prices fell to attractive valuations and motivated market participants to assume fresh positions.
Adviser to the Prime Minister on Finance Shaukat Tarin had said that Saudi Arabia offered Pakistan a whopping $4.2 billion loan package at a 3.2% interest rate.
Depression in Pakistan
Pakistan Internal Affair
Pakistan Politics
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