KSE-100 Index Surges by 452 Points on the Back of Expected IMF Deal

The benchmark KSE-100 index increased by 452.03 points, or 1.08 percent, on Monday to reach 42,246.69 points at 10:38am, reflecting higher share prices.

Raza Jafri, the head of equity at Intermarket Securities, explained the gains as being due to market anticipation that the government will reach a critical staff-level agreement (SLA) with the International Monetary Fund (IMF) this week.

"The reported year-long delay in Saudi Arabia's delayed oil plant is also being positively viewed," he continued.