Shares at PSX climb 900 points in intraday trade due to ADB programme

Shares at the Pakistan Stock Exchange (PSX) climbed 900 points on Wednesday in intraday trade ahead of the budget announcement on June 10.

The KSE-100 index climbed 923.71, or 0.77 per cent, to stand at 121,374.58 from the last close of 120,450.87 at 1:31pm.

Sana Tawfik, head of research at Arif Habib Limited, attributed the bullish momentum to the news of the approval of a new financial package between Pakistan and Asian Development Bank (ADB).

The ADB approved $800 million...