PSX crosses 43,000 with a gain of much points
In celebration of the resolution of the no-confidence motion against Prime Minister Imran Khan, shares of the Pakistan Stock Exchange skyrocketed on Monday.
Due to rupee's depreciation against the US dollar, the market opened on a positive note, shifted between the green and red territories for 40 minutes. And then remained positive throughout the session. The investors welcomed the announcement of upcoming Asian Development Bank (ADB) funds worth $2.5 billion for the fiscal year 2022-23, out of which $1.5-2 billion will be available in the current calendar year.
Additionally, the release of remittances data for April 2022 gave investors confidence. For the first time in history, remittances crossed the $3 billion mark in a month, reaching $3.1 billion in April 2022 and supporting f...