During intraday trading, the benchmark KSE-100 index increased by 854.19 points from its previous finish of 71,359.40 points to stand at 72,213.59.
The KSE-100 index broke yet another record, according to Muhammad Sohail, CEO of Topline Securities. According to him, following a record current account surplus, consumer inflation is anticipated to decline.
This outstanding accomplishment indicates strong growth potential in the near future and demonstrates investors’ faith in the nation’s economic prospects.
On Monday, the KSE-100 index broke beyond the crucial 71,000 threshold.
The KSE-100 Index dropped 74.06 points (-0.10 percent) to close at 71,359.40 points on Tuesday, marking a turbulent session for the Pakistan Stock Exchange.
Although the market started the day on a strong up note, trading remained erratic as the index fluctuated in both directions.
The last 45 minutes saw significant selling pressure on the index as a result of profit-taking; otherwise, the session had stayed in the range.
It is important to note that Islamabad is presently expecting the transfer of $1.1 billion under the terms of the stand-by arrangement (SBA), which was signed in the final days of the coalition government led by the PDM and was in force from July 1, 2023, to March 31, 2024.
It was previously reported that Pakistan has formally requested the International Monetary Fund (IMF) to seek the next bailout package under the Extended Fund Facility (EFF), which is expected to total between USD 6 and USD 8 billion.
Pakistan has applied twice to the International Monetary Fund (IMF) for support under two different categories: additional climate funding and the extended fund facility (EFF).
