The Pakistan Stock Exchange rallied on Monday as investors were observed cheering the news of successful completion of talks with the International Monetary Fund (IMF) about the loan programme.
Pakistan and the IMF agreed, in principle, to extend the stalled bailout programme by up to one year and increase the loan size to $8 billion.
Subsequently, investors’ participation remained healthy across the board as the benchmark KSE-100 index opened the session on a positive note and remained in the green throughout the day.
Moreover, fresh appreciation of the rupee against the US dollar coupled with some better-than-expected corporate results also enticed market players to assume fresh positions.
Earlier, the trading session started on a positive note as the benchmark index rallied and touched an intra-day high at 46,204 points.
Moving forward, the index oscillated in a narrow range due to some profit-taking at attractive valuations but stayed in the positive territory, to finally settle above the 46,000-point level.
