The benchmark of major shares galloped higher on Tuesday, crossing the psychological barrier of 60,000 points for the first time in history. Speaking to Dawn, Topline Securities Ltd CEO Mohammed Sohail said the rally in stock prices witnessed since the beginning of 2023-24 has been one of the fastest in the last two decades. One of the key reasons for the steep rise in share prices is unusua
The benchmark index of the Pakistan Stock Exchange (PSX) continued its bullish run on Tuesday to cross the 60,000 barrier in a record high. At closing, the KSE-100 index’s trade volume increased by 918.92 points, or 1.54 per cent, standing at 60,730.26 from the previous close of 59,811.34. The index reached a high point of 60,845.60 points at 3:30pm, while the lowest was 60,023.8 around 9am.
The Asian Development Bank (ADB) on Tuesday announced that it had approved a $180 million loan to improve water supply and solid waste management services in Punjab’s two rapidly growing cities — Rawalpindi and Bahawalpur. In a statement, the Manila-based lending agency said the loan was expected to benefit about 1.5 million people through the Developing Resilient Environments and Advancing Mun
Repatriation of profit and dividends on foreign investments surged almost 21 times year-on-year to $272.5 million in October, indicating the State Bank of Pakistan has relaxed the tighter controls on dollar outflows. Currency market experts said the outflow of half a billion dollars during the first four months of 2023-24 would surely undermine the efforts of the central bank to keep the foreig
Business confidence in Pakistan is on the upswing, according to the latest Business Confidence Index (BCI) survey released by the Overseas Investors Chamber of Commerce and Industry (OICCI) on Tuesday. Wave 24 of the OICCI survey conducted from October to November indicated a seven per cent overall improvement over the preceding wave held in March-April. The survey paints a “nuanced picture”