The benchmark index of the Pakistan Stock Exchange continued its bullish run on Wednesday(Nov 29) to cross the 61,000 barrier in a record high.
The KSE-100 index’s trade volume increased by 601 points, trading at 61,331 at 10:20 AM from the previous close of 60,730.
The benchmark KSE-100 index had sustained its rally from the previous week, which analysts had attributed to attractive valuations and the successful conclusion of a staff-level deal with the International Monetary Fund.
Sources revealed that the technical experts’ delegation will hold consultations with the Federal Board of Revenue over the taxation policy for about one week.
Earlier it emerged that the the IMF executive board is likely to approve the staff-level agreement with Pakistan on December 07.
Sources said that after the approval from IMF’s Executive Board around US$700 million will be available to Pakistan, bringing total disbursements under the program to almost US$1.9 billion.
