KSE crosses 48,000 level, highest in 2 years

KARACHI: A bullish trend continued at Pakistan Stock Exchange (PSX) as the benchmark KSE-100 crossed 48,000 level, a 24-month high, after a gain of over 1000 points in early trading on Monday.

According to the latest update, the benchmark KSE-100 index surged by 1,010.72 points or 2.15 per cent hovering at the 48,062.56 level.

KSE100 crossed 48k level after 24 months

KSE-100 index went up by 977 points (48,054 pts, +2.07%, on intraday basis) DoD ; the 48k level crossed after ~24 months (last seen on Aug 23, 2021).

The market gained 6,601 points (+15.9%) since staff level agreement with the IMF for… pic.twitter.com/EowHmLVA2L

— Arif Habib Limited (@ArifHabibLtd) July 31, 2023

The index has remained positive having gained 6000 points after approval of the staff level agreement with the International Monetary Fund (IMF).

On Thursday, the index had settled at 47,077 after an increase of 394.47 points or 0.85%. This was the first time the KSE-100 closed over the 47,000 level in 21 months.

In an another encouraging dvelopment, Pakistani rupee saw marginal improvement against the US dollar, appreciating 0.16 per cent during the opening hours of trading.

The rupee was hovering at 286, an increase of Rs 0.45 in the inter-bank market.