KARACHI – Pakistan Stock Exchange’s (PSX) main index witnessed massive gains of over 700 points, nearly reaching the 47,000 level, soaring the record high of 21 months.
During the trading session on Thursday, KSE 100 index jumped by 700 points, reaching 47,393. Ultimately, it closed at 47,000, marking a notable increase.
This is the first time in nearly two years that KSE-100 Index soared to sky high.
The market witnessed huge gain of 5,751 points since the staff-level agreement with the IMF for a $3 billion Standby Agreement (SBA).
Financial experts linked the upwards trajectory with increased valuations after Islamabad secured bailout funds from IMF. In the post-SBA, the current Price-Earnings Ratio of the main index stands more than 3 times.
Investors are taking interest amid positive development, the finance ministry also conducted a meeting on the energy sector, and the market expects circular debt issues of energy companies would improve.
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