KSE-100 Index Hits Record High Surge to 81,839 Points on IMF Aid Deal
The KSE-100 index gained 684 points to close at an all-time high of 81,839 points, a new historical high. Meanwhile, the market capitalization increased by Rs. 23 billion, with 454 million shares traded.
A total of 241 companies witnessed an increase in their shares, while 155 companies saw a decline.
Earlier on Monday, the KSE-100 hit the then-all-time high after crossing 81,000 points level.
The KSE-100 index surged by 1,436 points and touched an intra-day high of 81,380 points.
The benchmark index closed at a new all-time high of 81,155, up 1.52 percent or 1,211 points.
The bullish momentum was observed at the KSE-100 after the International Monetary Fund (IMF) staff and Pakistani authorities reached a staff-level agreement, said the economic expert.
Pakistan and the International Monetary Fund reached a three-year, $7 billion aid package deal, the Washington-based institution said on Friday.
The new program, which needs to be validated by the Fund’s Executive Board, should enable Pakistan to “cement macroeconomic stability and create conditions for stronger, more inclusive and resilient growth,” according to a statement.
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