PSX rallies as Saudi Arabia deposits $2bn, KSE-100 gains over 2,000 points

Buying rally continued at the Pakistan Stock Exchange (PSX) with the benchmark KSE 100 index gaining over 2000 points during the opening minutes of trading on Thursday. At 9:44am, the benchmark index was hovering at 170,828.25 points, up by 2,318 points or 1.38 percent. Earlier today, the State Bank of Pakistan (SBP) said it had received funds of US$ 2 billion from Ministry of Finance, Kingdom of Saudi Arabia. Saudi Arabia had committed $3 billion in additional deposits, with disbursement expected in the coming week. Meanwhile, index heavy automobile, cement, food and personal care products and insurance sectors traded in the green. On Wednesday, the benchmark KSE-100 Index gaining 2,885.10 points or 1.74 percent to close at 168,519.94 points.