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HomeBusinessIMF announcement lifts KSE-100 by 500 points

IMF announcement lifts KSE-100 by 500 points

The KSE 100-index of the Pakistan Stock Exchange (PSX) witnessed a bullish trend on Monday closing at 46,073.25 points against 45,553.02 points on the last working day.

The index gained 520.23 points following announcement that the International Monetary Fund (IMF) had agreed to increase the size of its $6 billion loan programme by $2 billion and extend it for another year to prop up Pakistan’s balance of payments position and foreign exchange reserves.

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A total of 368,830,284 shares, valuing Rs9.663 billion, were traded during the day compared to the trade of 217,565,712 shares worth Rs5.296 billion the previous day.

As many as 325 companies transacted shares in the stock market, 163 of them recorded gain and 148 sustained losses, whereas the share price of 14 companies remained unchanged.

The three top trading companies were Hum Network with a volume of 46,871,500 and price per share of Rs8.51, Telecard Limited with a volume of 35,492,500 and price per share of Rs14.21 and WorldCall Telecom with volume of 31,986,000 and price per share of Rs1.71.

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Bata (Pak) witnessed a maximum increase of Rs99.99 per share, closing at Rs2,299.99 whereas the runner up was Nestle Pakistan, the share prices of which climbed up by Rs81.87 to Rs5,700.

Sanofi-AventisXD witnessed maximum decrease of Rs21, closing at Rs903 followed by Thal Ind. Corp, the share price of which declined by Rs9 to close at Rs260.

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