April 06, 2023 (MLN): Pakistan Stock Exchange (PSX) on Thursday opened on a bullish note as investors opted for value buying which led the KSE-100 index to gain 448 points at [10:20 PST] so far and is currently trading at 40,165.65 points level.

The positivity is attributed to the news flows wherein it said that Saudi Arabia will provide $2 billion in extra deposits to Pakistan.

Since January, the government has been in talks with the IMF to secure the release of $1.1 billion from a $6.5bn bailout package agreed upon in 2019.

Nonetheless, the agreement has been postponed due to commitments from friendly countries to provide further financial assistance.

The upcoming inflows will help foreign exchange reserves to shore up.

Sector-wise, oil & gas exploration, oil & gas marketing, fertilizer, cement, commercial banks, and technology have witnessed the maximum gains so far.

Scrip-wise, ARPL, ABOT, MARI, CHCC, ENGRO, LCI, and LUCK observed higher buying activity.

Copyright Mettis Link News

Posted on: 2023-04-06T10:21:51+05:00