Stock market crosses 55,000 mark

KARACHI: Pakistan Stock Exchange crosses the 55,000 points mark early on Friday morning.

The benchmark KSE-100 index opened at 54,261.42 points and quickly jumped nearly a thousand points within an hour of trading to hover around 55,243.05 points.

The share market has seen some impressive growth days in the past few weeks, and for most of the current week, with sporadic downturns.

IMF urges Pakistan to broaden taxation to include real estate, agriculture sectors

The upcoming IMF review, and the central bank’s decision to keep the policy rate unchanged have offered stability to the investor confidence in the stock trading.

At the same time, the government’s decision to intensify crackdown on illegal foreign currency trading as well as maintaining petrol and diesel prices have proven positive for investor sentiment.

A little over 41 million shares had traded hands in the morning our on final trading day of the week.