After the approval of the $700 million tranche under the IMF-Pakistan standby agreement, the Pakistan Stock Exchange (PSX) witnessed a surge of 308 points, reaching a new milestone of 57,700 points for the KSE-100 index.
Currently, the KSE-100 index is trading at a record high of 57,706 points.
Investor confidence in the stock market appears to be on the rise, coinciding with the rupee’s significant gain against the US dollar, reaching a record increase of Rs1.14 in interbank trading on Thursday.
Market analysts attribute the bullish trend of the PSX 100 index to factors such as the announcement of the general elections date (February 8) and the subsequent approval of the IMF-Pakistan standby agreement, leading to new heights in the stock market.
