{"id":26817,"date":"2023-11-21T11:27:17","date_gmt":"2023-11-21T11:27:17","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/psx-records-modest-gains-up-nearly-300-points\/"},"modified":"2023-11-21T11:27:17","modified_gmt":"2023-11-21T11:27:17","slug":"psx-records-modest-gains-up-nearly-300-points","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/psx-records-modest-gains-up-nearly-300-points\/","title":{"rendered":"PSX records modest gains, up nearly 300 points"},"content":{"rendered":"

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The benchmark index of the Pakistan Stock Exchange (PSX) recorded gains on Tuesday, staying above the 57,000-point level.<\/p>\n

According to the PSX website<\/a>, KSE-100 index closed at 57,371.58 points, up 293.62 or 0.51 per cent from the previous close of 57,077.96 points.<\/p>\n

Last week, the benchmark of representative shares hit an all-time high<\/a> and crossed 57,000 points on the back of the staff-level agreement reached<\/a> between Pakistan and the International Monetary Fund (IMF).<\/p>\n

The signing of the staff-level agreement paves the way for the disbursement of the second loan tranche amounting to $700 million, subject to the approval of the IMF\u2019s Executive Board \u2014 which is tentatively scheduled<\/a> for Dec 7.<\/p>\n

Speaking to Dawn.com<\/em> today, Intermarket Securities\u2019 head of equity Raza Jafri said valuations remained cheap despite the market\u2019s recent rally.<\/p>\n

\u201cGiven the top-down outlook is reasonably sanguine, the outlook on Pakistan equities remains positive,\u201d he added.<\/p>\n

Meanwhile, First National Equity chief executive Ali Malik attributed today\u2019s rally to a positive economic outlook in the near future. He said there were high expectations regarding the IMF board\u2019s approval for the second loan tranche.<\/p>\n

\u201cNumbers show Pakistan\u2019s trade deficit has decreased, which means that exports have increased,\u201d Malik said, adding that shares were trading at a very low price-to-earnings ratio.<\/p>\n

\u201cOn top of that, asset replacement value has tremendously risen \u2026 so the market is very cheap, especially big industries,\u201d he added.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The benchmark index of the Pakistan Stock Exchange (PSX) recorded gains on Tuesday, staying above the 57,000-point level. According to the PSX website, KSE-100 index closed at 57,371.58 points, up 293.62 or 0.51 per cent from the previous close of 57,077.96 points. Last week, the benchmark of representative shares hit an all-time high and crossed […]<\/p>\n","protected":false},"author":2,"featured_media":26818,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/i.dawn.com\/large\/2023\/11\/21110645fac7935.jpg?r=110727","fifu_image_alt":"","footnotes":""},"categories":[192],"tags":[],"class_list":["post-26817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-islamabad-news"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t