Pakistan Stock Exchange gains 1,200 points

On Monday, Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index heightened more than 1,200 points in intraday trading to cross the 45,000-point mark. It happened due to the cabinet’s approval to refurbish Saudi Arabia’s $3 billion support package for Pakistan in safe deposits and $1.2bn worth of oil supplies on deferred payments. “It is expected that the reduction in prices of crude oil will continue, which will help us reduce our current account deficit as well as inflation and reduce the continuous pressure on rupee,” Salman Naqvi, head of research at Aba Ali Habib Securities stated.