Pakistan Stock Exchange (PSX) depicted a roller coaster ride on the second trading day of this week and finally settled in the red zone with the loss of -112.95 points, to close the index level at 41,765.62 .
On the economic front, the International Monetary Fund (IMF) has finally sent Pakistan’s government the Memorandum of Economic and Financial Policies (MEFP), which is an essential step in confirming that both parties have agreed to revive the $6 billion programme. Moreover, the G20 countries provided much needed temporary relief to Pakistan by securing debt relief worth USD 3.68bn. This comes after receiving USD 2.3bn from China earlier. Moreover, the incumbent government is also taking additional measures such as importing high quality coal in order to reduce the country’s external payments. As a result, the Pakistani rupee (PKR) began to show signs of recovery as it increased by Rs1.5 in the interbank market against the US dollar and quoted at 205.75/206.25.
Investors opted to book profit after yesterday’s gains and overall 256 million shares traded in KSE All Share Index today, where KEL,OBOYR1,WTL and UNITY remained top Volume leaders.