Karachi, July 18, 2024: On Thursday, the Pakistan Stock Exchange (PSX) benchmark index KSE-100 reached a new all-time high, hitting 81,909 points.
On Thursday, the KSE-100 index gained 684 points, closing at a new all-time high of 81,839 points. The market capitalization increased by Rs. 23 billion, with 454 million shares traded.
A total of 241 companies saw an increase in their shares, while 155 companies experienced a decline.
Earlier on Monday, the KSE-100 reached its previous record high, surpassing the 81,000 points level.
The KSE-100 index surged by 1,436 points, touching an intra-day high of 81,380 points.
The benchmark index closed at a then-record high of 81,155 points, up 1.52 percent or 1,211 points.
The bullish momentum at the KSE-100 followed the announcement that the International Monetary Fund (IMF) staff and Pakistani authorities had reached a staff-level agreement, according to an economic expert.
Pakistan and the IMF reached a three-year, $7 billion aid package deal, as announced by the Washington-based institution on Friday.
The new program, which needs to be validated by the Fund’s Executive Board, aims to “cement macroeconomic stability and create conditions for stronger, more inclusive, and resilient growth,” according to the statement.
