KARACHI – Pakistan Stock Exchange saw positive development with addition of 800 points and market touched 80,000-point mark after weeks of instability.
On Wednesday, the benchmark index hit high of 80,300 points a day after Pakistan finally included in the schedule for the International Monetary Fund (IMF) Executive Board meetings. IMF will review Pakistan’s request for new $7 billion loan program.
The benchmark moved up, signaling renewed investor confidence after political stability and International Monetary Fund (IMF).
IMF agreement further bolstered investor sentiment, leading to increased activity and a sharp rise in the stock exchange.
Amid positive development, Stock Exchange reported significant profit of Rs1.03 billion for FY24, marking a 368oc year-on-year increase from Rs219 million in the previous year.
Earnings per share moved up to Rs1.28, and a cash dividend of Re1 per share was announced. PSX’s revenue increased by nearly 45pc to Rs2.12 billion, while administrative expenses grew by 27pc.
Pakistan’s $7 Billion IMF deal finally under review as IMF Board meeting set for Sep 25
