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On IMF deal the KSE100 Index rises 1251 points closing at  81,155 up 1.52%

Good amount of net buying by Foreign Corporates of around $3 million. Local mutual funds were also net buyers of close to $1 million bucking their recent trend.

The sharp upward trend may put a stop at redemption pressure on the local funds.

The recent persistent trend of higher inflation and higher oil prices is dampening hopes of further rate cuts. Otherwise, the absence of selling pressure at the Pakistan Stock Exchange (PSX) was enough to sustain the bullish trend.

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