PSX crosses 40,000 points after historic Saudi package

238

Pakistan Stock Exchange witnesses bullish trend. According to the reports, Prime Minister Imran Khan’s visit to Saudi Arabi has brought positive impact and this has propelled the renowned investors in Pakistan’s stock market.

The benchmark KSE-100 index has crossed above 40,000 after gaining more 763 Points.

Before this, the reports were for trading for PSX about 40,000.

Though it had touched a year before, the PSX was trading above 40,000 when on October 2018 Pakistan approached for IMF for a bailout package.

On Wednesday, Saudi Arabi agreed to give Pakistan a deposit of $3bn and oil imports for deferred payments, the Pakistan Stock Exchange (PSX) was trading 39,271 points and pushed towards gaining about 1,556 points.

This is only the second time in the history of Pakistan Stock Exchange that index gained 1556 points in one day, it has happened before in June 2017, and that time Pakistan Stock Exchange gained about 1566 points, a record in the history of Pakistan stock exchange