KARACHI – Pakistan Stock Exchange (PSX) on Monday surged past the 84,000-point mark after recent $1.1 billion disbursement from the International Monetary Fund (IMF).
The growing optimism, in the market due to the impending arrival of international guests for the Shanghai Cooperation Organization (SCO) Summit to be hosted by Pakistan, also became another major factor behind the situation at PSX.
At the beginning of the trading week, the KSE-100 index reached 84,116 points, reflecting an increase of 584 points.
The PSX experienced a generally positive trend throughout the previous week, despite occasional dips.
A temporary easing of political tensions, combined with the economic stability following the IMF’s first tranche on September 30, allowed the Pakistan Stock Market to maintain upward momentum during the first half of the week. However, shares began to fall after a brief period of gains.
By the middle of last week, the KSE-100 index had dropped to 82,308 points, losing 228 points.
