ISLAMABAD: The Pakistan Stock Exchange (PSX) started the week on a positive note on Monday as the KSE-100 index gained 604 points and is trading at 43,604.75 points with +1.74% increase. Commercial Banks remain the top contributor to KSE-100 with +228.58 points. According to the PSX website, K-electric Limited remains the volume leader with 7.62% increase while the highest change was observed by Woollen with +7.48%. The share prices of most of the companies that had fallen due to bearishness in the previous weeks fell to lower levels. Investors bought these falling shares heavily after August 1, which resulted in the PSX index climbing the psychological barrier of 43,000 mark for the first time since May 2022. On August 14, Deputy Governor State Bank Dr Murtaza Syed said that the country’s economy has come out of a difficult phase. The positive market response is due to the decline in the value of the dollar, resumption of loan from the International Monetary Fund (IMF), and impending investment from UAE. The American news agency Bloomberg reported that the Saudi Ministry of Finance is going to sign an agreement with the State Bank of Pakistan to renew the deposit of $3 billion. The announcement is expected in the next two days. The renewal of the deposit for Pakistan will pave the way for the release of next installment from the IMF this month. DNA
