The Pakistan Stock Exchange (PSX) saw an upward trend, with the KSE-100 Index crossing the 58,000 level for the first time. The index was at 58,035.58, with a 1.16% increase. The market saw buying in sectors like automobile, cement, banks, and oil and gas companies. The bullish trend is due to improved economic indicators and successful negotiations with the IMF, which could unlock $700 million in funding. Analysts expect more inflows from other partners. The CEO of Topline Securities said that the PSX has delivered a 50% return in USD terms in 6 months and the recovery is just starting. The Federal Minister for Finance, Dr Shamshad Akhtar, reported positive signs of economic recovery and expects GDP growth between 2 to 2.5% in the fiscal year 2024. She also highlighted the successful review of the IMF staff-level agreement despite external factors impacting the economy.

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By hassani

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