Share prices soar at Pakistan Stock Exchange
Index up by 467 points at midday
August 4, 2022 12:51 PM
Stocks bullish trend continued on Thursday as the benchmark KSE-100 index gained 467.55 points or 1.14 percent by midday 11:35 am to reach 41,536.42 points, reported 24NewsHD TV channel.
The rupee’s sharp recovery and surging global equities were feeding into improved sentiment in the stock market.
Experts said that investors who had lost interest in the last few months are now circling back.
Stocks are bouncing back since yesterday when the Pakistani Rupee recovered by Rs9.59, making the largest single-day gain in decades after weeks of battering amid political and economic turmoil.
Miftah Ismael in his recent interview said that the Chinese rollover of debt and the International Monetary Fund’s (IMF) Staff Level Agreement would bring stability and confidence to the Pakistani market.
IMF had completed all prior actions required for the seventh and eighth reviews and acted as a catalyst in the stock market’s rise.
Reporter Ashraf Khan