Shares at PSX surge 1,300 points after IMF agreement

Bulls dominated the trade floor on Wednesday as shares at the Pakistan Stock Exchange (PSX) surged more than 1,300 points in intraday trade after the government clinched the staff-level agreement (SLA) with the International Monetary Fund (IMF).

The benchmark KSE-100 index climbed 1,390.46 points, or 1.19 per cent to stand at 118,023.62 from the previous close of 116,633.16 at 9:22am.

Awais Ashraf, director research at AKD Securities, said, “Investors remain optimistic about securing...