The Pakistan Stock Exchange (PSX) reached a new all-time high, with the KSE-100 Index rising by 588 points to 82,800.
The market saw a surge of excitement due to the much anticipated approval of a $7 billion loan by the International Monetary Fund (IMF) and the affirmative comments made by Prime Minister Shehbaz Sharif.
This increasing trend was caused by a number of causes, including the success of the global stock market, regained confidence in the financial services, oil and gas, cement-based material, and pharmaceutical industries, and approval of Pakistan’s new loan package by the IMF Executive Board.
Experts observe that the stock exchange has been significantly impacted by the passage of the IMF accord, which has reenergized investors and kept the market solidly in the uptrend zone throughout the session of trading.
The bourse touched an intra-day high of 82,331.85 toward the end of trading on Wednesday after breaking above the crucial 82,000-point barrier earlier in the day with the help of a number of encouraging economic measures. After strong gains, the market settled closest to its top.
The rupee’s strengthening, rising global crude oil prices, and declining government bond rates in the context of decreasing inflation were major drivers of the positive trend.
