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PSX rises above 1000 points on hopes of positive outcome of IMF talks | KARACHI – Pakistan Stock Exchange Bounces Back | IMF Talks

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PSX rises above 1000 points on hopes of positive outcome of IMF talks
KARACHI – Pakistan Stock Exchange Bounces Back | IMF Talks

KARACHI – Pakistan Stock Exchange Bounces Back | IMF Talks

On the first working day of the week, the equity market’s benchmark KSE-100 index moved up by more than 1,000 points as traders and investors expected a positive outcome in the impending talks with the International Monetary Fund (IMF) for the resumption of bailout funds.

The benchmark index rose 1,033.02 before noon amid a change in sentiment in the money market as investors were looking for such development.

Market pundits claimed that changes in Finance Bill 2023-24, and other changes like revocation on imports collectively rekindled hopes among the market stakeholders.

Amid different reports, Pakistani authorities claimed that the IMF could sign the staff-level agreement (SLA) within this week.

Pakistan approved Finance Bill 2023-24 with a majority vote, making changes proposed by the IMF.

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