KSE-100 index
ISLAMABAD: The benchmark KSE-100 index of the Pakistan Stock Exchange surpassed 44,080 points level on Thursday morning amid renewed buying supported by the government’s deal with the IMF.
The KSE-100 index gained more than 530 points on Thursday morning, settling around 44,088 points by 11:40 am.
The screenshot shows further growth in the stock market trading and index on Thursday morning.
In percentage, the market gained 1.23 percent. The KSE-100 index touched 43,550 points lowest level on Thursday and surpassed the 44K level with a fresh buying spree.
Till 11:40 am, the value of the shares traded at the stock market amounted to 5.308 billion rupees. The volume of shares increased to 76.587 million.
The trading screens of the stock market turned green with a significant increase in the value of shares.
The executive board of the IMF is scheduled to meet on July 12. The board will approve the disbursement of $1.1 billion next tranche for Pakistan. This news bolstered growth in the stock market on Thursday morning.
Prime Minister Shehbaz congratulates the nation as stock market shows a record growth
Meanwhile, Prime Minister congratulated the nation after the Stock Exchange recorded a surge of 2,231 points on Monday (July 3).
Monday was the first working day after the government signed agreement with the IMF for a $3 billion loan facility.
PM Shehbaz said that the positive signs of economic recovery have started surfacing. He termed this development as an outcome of a hard work and sound policies of the coalition government.
He said, “The journey of economic development, reduction in inflation, and progress of Pakistan is restarting from the point where it was left by PML-N supremo Nawaz Sharif.”
Premier said that a new ray of hope emerged after severe disappointments and investors and the business community are reposing trust after a deal with IMF involving $3 billion standby arrangement.
stock market hit upper lock after IMF deal
Shares listed at the Pakistan Stock Exchange hit the upper locks on Monday morning in reaction to the signing of the deal with the IMF.
Monday is the first working day after the government and the IMF signed the staff-level agreement for a $3 billion loan facility.
Before the opening of the stock market, analysts predicted a rapid boom in the market.
