Shares gain 729 points on hopes of IMF review completion.
Shares at the Pakistan Stock Exchange (PSX) rose immediately after the opening bell on Wednesday on hopes that the ninth review of the International Monetary Fund (IMF) programme would be completed soon which would unlock $1.2 billion along with inflows from friendly countries.
The benchmark KSE-100 index closed at 39,784.90 points, up 729.25 points, or 1.87 per cent. It reached an intraday high of 889.97 points, or 2.28pc, at 12:05pm.
Ismail Iqbal Securities' Head of Research Fahad Rauf said expectations were building that the government would take steps to resume the IMF programme which would help the country avert default.
He noted that exploration and production stocks performed well on expectations that the...
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