Karachi: Prime Minister’s visit to Saudi Arabia and Finance Minister’s visit to Washington are important developments, with the approval of the IMF’s new program, the stock market boomed.
With positive economic indicators and expectations, the 100 index set new historic records. The Hundred Index hit a new high of 73,000 points at the start of trading.
The Pakistan Stock Exchange rose by 403 points at the start of business, as a result of which the index crossed the level of 73000 points for the first time in the history of the country. 100 index rose to the level of 73099 points.
Investors are confident of the privatization plan, positive talks with the IMF, which has led to a sustained boom in business and the index flying towards new highs. The investment of local funds and foreign investors continues.
Factors such as the positive expectations associated with the visit of the Prime Minister to Saudi Arabia and the possible release of the last tranche of the ongoing program, the beginning of the negotiation period for obtaining a new loan program, are influencing the capital market. Foreign investors and local funds are investing in the market on a sectoral basis due to which the market graph is moving upwards.
