Wednesday, July 24, 2024

Karachi Stock Exchange Crosses 47,000 Mark First Time in Last 20 Months

On Thursday, the Pakistan Stock Exchange’s main KSE-100 index went above 47,000 points, reaching its highest level in 21 months. The market’s positive mood was boosted by the recent deal with the International Monetary Fund (IMF) and the encouraging performance of many companies, especially in the major sectors of the index.

The KSE-100 index closed at 47,076.9 points, the highest since November 8, 2021. Since the IMF’s staff-level agreement for the $3 billion Standby Agreement (SBA), the market has gained 5,751 points (a 13.9% increase).

Market experts predict that the positive trend will continue because the market remains appealing, and the prospects for better overall economic stability have added to the positive corporate results this season.

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