The KSE-100 index passed the 42,000-point mark this week as a result of several positive announcements and market-boosting catalysts.
The week began negatively as investors awaited the EC’s decision in the foreign funding dispute. The decision against the PTI gave the market a welcome boost in momentum. By raising the petroleum development charge, the International Monetary Fund (IMFfinal) loan tranche of $1.2 billion was satisfied, which fed the market’s upbeat mood.
The rupee appreciated versus the dollar in the interbank market, supporting the stock exchange’s upward trend. Each of the five trading sessions ended in the black. Investors went on to buy stock in the stock market in response to the $2 billion rollover of the Chinese loan. The index increased for two straight trading days as a result of the continuation of the bourse’s winning run.
