PSX Surges Nearly 1,600 Points to Close at All-Time High

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) gained nearly 1,600 points on Tuesday to close at an all-time high of 120,450 points. At close, the benchmark KSE-100 index was up 1,573 points or 1.31 percent over the previous closing. A total of 578,163,611 shares were traded during the day as compared to 497,940,020 shares the previous trading day, whereas the price of shares stood at Rs. 26.82 billion against Rs 23.450 billion on the last trading day. As many as 467 companies transacted their shares in the stock market, 232 of them recorded gains and 187 sustained losses, whereas the share price of 48 companies remained unchanged. In a major development today, the Asian Development Bank (ADB) outright ignored Indian objections and approved a $800 million financing package for Pakistan. The financing includes a $300 million policy loan and a $500 million guarantee to secure up to $1.5 billion in foreign commercial loans.