The Pakistan Stock Exchange (PSX) rallied for the third day in a row, with the benchmark KSE-100 Index gaining 444.65 points (+0.97 percent) to close at 46,119.15 points on Wednesday.
The market opened on a positive note and maintained its positive trend throughout the session. The expectation of revival of the International Monetary Fund (IMF) programme for the $6 billion extended fund facility (EFF) kept the investors’ confidence high. The IMF discussed Pakistan’s case on Wednesday and the programme revival seems imminent, as the government has met all key conditions.
Moreover, the government successfully raised $1 billion through the issuance of international sukuk. The order books were oversubscribed at $2.7 billion, showing international investors’ confidence in the country’s economic revival, long-term stability and growth. This also provided a trigger to the bourse.
The KSE-100 Index moved in a range of 465 points, showing an intraday high of 46,139.50 points and a low of 45,674.50 points, which was the last session’s closing point. Among other indices, the KSE All Share Index gained 251.01 points (+0.8 percent) to close at 31,472.64 points, while KMI All Share Islamic Index gained 214.37 points (+0.95 percent) to close at 22,733.73 points. TLTP
