PSX weekly report: KSE-100 index gained 468 points

KARACHI: Pakistan Stock Exchange (PSX) experienced a week of positive trends and notable growth in business activities after general elections, ARY News reported on Saturday.

At the close of the business week, the KSE-100 index stood at 65,793 points, marking a gain of 468 points or (0.70%).

During the week, the KSE-100 index reached its peak at an impressive 66,150 points reflecting the confidence of investors. However, the lowest KSE-100 index reaching its at 65,187. Such variations are inherent in the stock market, prompting investors to carefully monitor the market dynamics and make informed decisions.

Trading during the week the market witnessed a volume of total 2.12 billion shares worth Rs 82.59 billion were transitioned.

Moreover, the market capitalization witnessed a notable increase of Rs 42 billion during the week, reaching a total value of Rs 9,354 billion from Rs8,717 billion.

Earlier, the International Monetary Fund (IMF) will support a new economic programme for Pakistan if the government seeks one, while encouraging the resolution of disputes linked to last month’s election, it said on Friday.

Cash-strapped Pakistan has grappled with the Feb. 8 election that delayed the formation of a coalition government until new Prime Minister Shehbaz Sharif was sworn in on Monday. But the IMF news boosted investor confidence and helped add to a remarkable rally in the country’s bonds.

“We look forward to engaging with the new government to complete the second review under the current stand-by arrangement and, should the government request, support the formulation of a new medium-term economic programme,” an IMF spokesperson said in an e-mail.