Karachi: The benchmark index of the Pakistan Stock Exchange (PSX) continued its upward momentum on Wednesday, crossing the highest level of 61,000 points.
The KSE-100 index witnessed an increase of 601 points in trading volume, reaching 61,331 at 10:20 am, up from the previous close of 60,730.
During the day, a business worth a total of 26.138 billion rupees was conducted for 779,671,060 shares, in contrast to the previous day’s business, which involved 657,580,760 shares with a total value of 20.272 billion rupees.
The benchmark KSE-100 index had maintained its rally since the previous week, attributed by analysts to attractive prices and the successful conclusion of negotiations with the International Monetary Fund (IMF) regarding the terms of the agreement. The benchmark index has risen by over 50% this year.
It should be noted that a team of IMF tax experts arrived in Pakistan on Monday. Sources suggest that the technical experts’ delegation will consult with the Federal Board of Revenue (FBR) on taxation policy for nearly a week.