As the KSE-100 index increased by 141 points on Friday to surpass the 42,000-point mark, the Pakistan Stock Exchange (PSX) maintained its upward trend.
The market opened in the green zone on Thursday. The primary KSE-100 index rose 635.91 points, or 1.50 percent, to finish at 42,901.27 points. The KSE-100 index of the PSX maintained its upward trend. At this time, the index is worth 43,042 points.
The trading activities on Thursday were also better as the ready counter’s total daily volumes increased to 293.900 million shares from the 237.359 million shares traded on Tuesday and the ready counter’s total daily traded value increased to Rs 10.212 billion from Rs 5.801 billion the previous session.
According to market experts, investors have restored their faith in trading following Finance Minister Ishaq Dar’s declaration that China and Saudi Arabia will give Pakistan a package worth $13 billion.
Ishaq Dar told reporters that during Prime Minister Shehbaz Sharif’s recent trip to Beijing, the Chinese leadership committed to refinancing $3.3 billion in commercial bank loans, rolling over $4 billion in sovereign loans, and increasing currency swap by about $1.45 billion, from 30 billion to 40 billion yuan.
He stated that during recent trips, China and Saudi Arabia had assured Pakistani delegations led by Prime Minister Shehbaz Sharif that they would meet Islamabad’s financial needs till June 2023.