KARACHI – Pakistan Stock Exchange on Thursday experienced a major surge of 1,510 points which resulted in the index crossing the 81,000-point level, rising to 81,971 points.
The factors such as expectations of receiving approval for a loan program from the IMF this month, a gradual reduction in the external financial gap and loan-related difficulties, a growth of 2.38% in large-scale industries, and the Asian Development Bank’s indication of providing $8 billion in loans over the next four years contributed to this bullish trend in the Pakistan Stock Exchange, allowing the index to surpass the psychological level of 81,000 points.
Besides it, the State Bank’s decision to reduce interest rates by 2% has positively impacted capital market activities while recoveries in the textile, food, chemical, auto, and garments sectors have kept the market in the green zone since the start of trading.
