{"id":92731,"date":"2024-11-14T11:29:05","date_gmt":"2024-11-14T11:29:05","guid":{"rendered":"https:\/\/nationaltimes.pk\/eng\/?p=92731"},"modified":"2024-11-14T11:29:05","modified_gmt":"2024-11-14T11:29:05","slug":"psx-crosses-94200-points-to-hit-new-intraday-high-as-mini-budget-fears-ease","status":"publish","type":"post","link":"https:\/\/nationaltimes.pk\/eng\/2024\/92731\/","title":{"rendered":"PSX crosses 94,200 points to hit new intraday high as mini-budget fears ease"},"content":{"rendered":"\n<p>Pakistan()_Stocks on Thursday hit a new lifetime high above the 94,200-point mark amid strong expectations of a soft landing for the economy, following reports that the International Monetary Fund (IMF) is unlikely to push Pakistan to introduce a mini-budget. As of 12:22pm, the Pakistan Stock Exchange&#8217;s (PSX) benchmark KSE-100 Index surged by 865 points, reaching a record high of 94,225 points.\u00a0 Khurram Schehzad, CEO of Alpha Beta Core, suggests that investor optimism is being driven by the IMF team\u2019s ongoing smooth review, pushing the market into uncharted territory.\u00a0 Schehzad notes that this raises the likelihood of Pakistan successfully completing the $7 billion Extended Fund Facility (EFF) arrangement. The IMF mission, which arrived in Islamabad on November 11, after meetings with Pakistani authorities, has reportedly given a thumbs-up to an increase in the tax-to-GDP ratio by nearly 1.5 percentage points \u2014 a significant achievement by the Federal Bureau of Revenue (FBR). This improvement means there\u2019s no immediate need for additional tax measures through a supplementary finance bill. It must be noted that the IMF had previously set a target for Pakistan to boost its tax revenues by 1.5% of GDP in the fiscal year 2024-25, targeting a total increase of 3% throughout the 37-month programme. Last week,\u00a0<em>The News<\/em>\u00a0reported that an IMF delegation would hold talks with Pakistan\u00a0next week following major &#8220;deviations&#8221; on performance targets and might urge Islamabad to bring out a mini-budget for &#8220;course correction&#8221;. The unscheduled visit and talks are too early for the first IMF review\u00a0 \u2014 due in the first quarter of 2025. Commenting on the rally, Ahsan Mehanti Managing Director &amp; CEO at Arif Habib Commodities, said stocks hit a new all-time high led by blue chip scrips on strong earnings&#8217; outlook down the line. &#8220;Rupee stability, receding fears over mini-budget and falling bank lending rates spurred a strong bull-run at the country&#8217;s capital market,&#8221; Mehanti added. It was a blue-chip-buying fest today as sectors, such as commercial banks, oil and gas exploration, oil marketing companies, and power generation, stole the show.\u00a0 Major support came from heavyweights, including MCB Bank, Meezan Bank Limited, National Bank of Pakistan, Hub Power Company, Mari Petroleum Company, Oil &amp; Gas Development Company, Pakistan Petroleum Ltd, and Sui Northern Gas Pipelines Limited.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pakistan()_Stocks on Thursday hit a new lifetime high above the 94,200-point mark amid strong expectations of a soft landing for the economy, following reports that the International Monetary Fund (IMF) is unlikely to push Pakistan to introduce a mini-budget. As of 12:22pm, the Pakistan Stock Exchange&#8217;s (PSX) benchmark KSE-100 Index surged by 865 points, reaching [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":92732,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-92731","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PSX crosses 94,200 points to hit new intraday high as mini-budget fears ease - Nation<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationaltimes.pk\/eng\/2024\/92731\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PSX crosses 94,200 points to hit new intraday high as mini-budget fears ease - Nation\" \/>\n<meta property=\"og:description\" content=\"Pakistan()_Stocks on Thursday hit a new lifetime high above the 94,200-point mark amid strong expectations of a soft landing for the economy, following reports that the International Monetary Fund (IMF) is unlikely to push Pakistan to introduce a mini-budget. As of 12:22pm, the Pakistan Stock Exchange&#8217;s (PSX) benchmark KSE-100 Index surged by 865 points, reaching [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationaltimes.pk\/eng\/2024\/92731\/\" \/>\n<meta property=\"og:site_name\" content=\"Nation\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-14T11:29:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/11\/1249806_4917962_PSX-KSE_updates.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"humza Jahangir\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"humza Jahangir\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/92731\/\",\"url\":\"https:\/\/nationaltimes.pk\/eng\/2024\/92731\/\",\"name\":\"PSX crosses 94,200 points to hit new intraday high as mini-budget fears ease - Nation\",\"isPartOf\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/92731\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/92731\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/11\/1249806_4917962_PSX-KSE_updates.webp\",\"datePublished\":\"2024-11-14T11:29:05+00:00\",\"author\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/27efa35fa76e99f3ad7e7397d7332c16\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/92731\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationaltimes.pk\/eng\/2024\/92731\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/92731\/#primaryimage\",\"url\":\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/11\/1249806_4917962_PSX-KSE_updates.webp\",\"contentUrl\":\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/11\/1249806_4917962_PSX-KSE_updates.webp\",\"width\":700,\"height\":400},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/92731\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationaltimes.pk\/eng\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"PSX crosses 94,200 points to hit new intraday high as mini-budget fears ease\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#website\",\"url\":\"https:\/\/nationaltimes.pk\/eng\/\",\"name\":\"Nation\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationaltimes.pk\/eng\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/27efa35fa76e99f3ad7e7397d7332c16\",\"name\":\"humza Jahangir\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/43feedd99bd6a90080d1621b7e6604364acb673ee979d3ffe5075557c14c68b9?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/43feedd99bd6a90080d1621b7e6604364acb673ee979d3ffe5075557c14c68b9?s=96&d=mm&r=g\",\"caption\":\"humza Jahangir\"},\"url\":\"https:\/\/nationaltimes.pk\/eng\/author\/humza\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"PSX crosses 94,200 points to hit new intraday high as mini-budget fears ease - Nation","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationaltimes.pk\/eng\/2024\/92731\/","og_locale":"en_US","og_type":"article","og_title":"PSX crosses 94,200 points to hit new intraday high as mini-budget fears ease - Nation","og_description":"Pakistan()_Stocks on Thursday hit a new lifetime high above the 94,200-point mark amid strong expectations of a soft landing for the economy, following reports that the International Monetary Fund (IMF) is unlikely to push Pakistan to introduce a mini-budget. 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