The Pakistan Stock Exchange’s benchmark KSE-100 index crossed the psychological barrier of 54,000 points on Tuesday, a milestone that analysts attribute to expectations of a timely International Monetary Fund review.
A little before 11am, the index extended gains of 403.5, or 0.75 per cent, from the previous close of 53,860.36.
The KSE-100 index has gained more than 30pc this year, with a turnaround in fortunes coming after the IMF approved the loan programme in July to avert a sovereign debt default.
A delegation of the global lender landed in Islamabad last week for the much-awaited loan review talks, setting the stage for a deep dive into forward-looking reforms under a nine-month bailout package.
Speaking to Dawn.com, Topline Securities Chief Executive Mohammad Sohail said: “Momentum continues as investors are hopeful of a timely IMF review.”
“With valuations so attractive, everyone wants to buy,” he added.
More to follow
