KSE-100 Powers Past 74,000 with over 500-point Gain: Report

Tue May 14 2024
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KARACHI: The Pakistan Stock Exchange has continued its merry-run as the benchmark KSE-100 has gained more than 700 points during the opening hours of trading today, local media reported on Tuesday.

By 11:40 am, the benchmark index has reached 74,362.27, marking an increase of 563.16 points or 0.76%.  Several sectors, including commercial banks, fertilizer, oil and gas exploration companies, OMCs, and refineries, witnessed significant buying activity.

Index-heavy stocks such as PPL, PSO, SNGPL, HBL, and NBP were trading positively. Investors attributed the surge in buying to progress in talks between the International Monetary Fund (IMF) and Pakistani authorities regarding a new program.

Meanwhile, Pakistan’s government-initiated discussions on further engagement with the IMF on Monday.

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