Pakistan Stock Exchange climbed more than 800 points after a day of volatility as bulls bounced back on the trading floor on Tuesday, reported 24NewsHDTV Channel.
The benchmark KSE-100 index climbed 808.28 points, or 0.71 per cent, to stand at 114,872.18 from the previous close of 114,063.90. The index closed at 114063 points yesterday.
M Awais, director of research at AKD Securities, said, claimed that the bull run to the announcement of the IMF Executive Board meeting to approve a tranche of $1.3 billion for Pakistan under the Extended Fund Facility (EFF) and a new 28-month arrangement under the Resilience and Sustainability Facility.
Earlier, the IMF website confirmed that the Fund’s Executive Board will meet on May 9 to discuss the country’s staff-level agreement for a new $1.3bn arrangement under a climate resilience loan programme, along with the first review of Pakistan’s ongoing $7bn bailout programme.