record-breaking
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Business
Karachi Stock Exchange Witnesses 7.3% Weekly Surge
Karachi’s Stock Exchange, PSX, ended the week on a historic high, the KSE-100 index reaching an unprecedented 66,223.63, up 7.3% WoW. Caretaker Prime Minister Anwaarul Haq Kakar’s visit, launching a Rs 30 billion Ijara Sukuk, fueled the surge. Bullish sentiments prevailed, driven by factors like anticipation of IMF approval for a $700 million loan tranche and positive economic outlook. Throughout…
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Money
Crypto Market Hits 2023 High as Bitcoin Tops $41,000 and Ethereum Exceeds $2,200
Bitcoin and Ethereum have surged, surpassing $41,000 and $2,200, respectively, marking the best crypto market performance since May 2022. The total crypto market cap has reached $1.54 trillion, a 2023 high. This rally is attributed to growing confidence in the crypto market, fueled by expectations of a 2024 interest rate cut by the US Federal Reserve and potential approval of…
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Finance
Gandhar Oil IPO Shatters Records: 64x Subscription Sparks Investor Frenzy
Exciting news in the financial arena! The Gandhar Oil’s IPO bidding closed on November 24 with an incredible response from investors. The three-day bidding process witnessed a remarkable 64 times subscription, reflecting the immense interest in the company’s public offering. Particularly noteworthy is the retail portion, which saw a subscription rate of 28.95 times. Non-institutional investors (NII) were equally enthusiastic,…
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