The Pakistan Stock Exchange (PSX) had a positive day on Wednesday, with the benchmark KSE-100 Index rising by over 400 points. The index reached a level of 48,643.30, an increase of 0.86%. This follows nine consecutive sessions of gains on Tuesday, where the index increased by 195.91 points, or 0.41%. The stock market has been in a positive state since the approval of a $3 billion Stand-By Agreement with the International Monetary Fund (IMF) last month. Notably, there was positive news in the oil and gas exploration, OMCs, chemical, and engineering sectors, while commercial banks, automobile assemblers, and cement sectors had mixed trends. Experts also praised the E&P sector for the announcement that Barrick Gold would pay Pakistan’s share of investment in Pakistani rupees, following a meeting between the Prime Minister and the CEO of Barrick Gold Corporation. This update is only applicable for the day and subject to change.
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