KARACHI – The Pakistan Stock Exchange’s KSE-100 index continued its bullish trend on Thursday, soaring to all-time high level and crossing the 67,100 barrier.
As the trading underway, the benchmark stock index struck a record high of 67,200 after gaining 653 points, rising 0.98 percent from the previous day’s close, till 10:30 am.
Previously, the KSE-100 index witnessed the highest-ever level of 67,094 points in December 2023.
The recent increase shows positive sentiments of investors as the government vigorously pursuing the policy of privatization.
The newly-formed government is also expected to secure $1.1 billion from the International Monetary Fund (IMF) as both sides recently reached staff-level agreement, sparking positive sentiments among investors.
On March 20, the IMF team reached a staff-level agreement with the Pakistani authorities on the second and final review of Pakistan’s stabilization program supported by the IMF’s $3 billion Stand-By Arrangement (SBA) approved in January 2024.
The IMF team, led by Nathan Porter, visited Islamabad from March 14-19, 2024, to hold discussions on the second review of Pakistan’s economic program.
Porter said, “This agreement is subject to approval by the IMF’s Executive Board, upon which the remaining access under the SBA, $1.1 billion (SDR 828 million), will become available.”
More to follow…
