PSX: KSE-100 index crosses 42,000 mark

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KARACHI: Pakistan Stock Exchange (PSX) continued its bullish trend on Friday as the KSE-100 index gained 141 points to cross the 42,000 points mark, ARY News reported.

On Thursday, the market opened in green zone. The benchmark KSE-100 index surged by 635.91 points or 1.50 percent and closed at 42,901.27 points.

The PSX’s KSE-100 index continued to witness a positive trend. The index is currently trading at 43,042 points.

During Thursday’s trading, the activities also improved as total daily volumes on ready counter increased to 293.900 million shares as compared to 237.359 million shares traded on Tuesday while total daily traded value on the ready counter increased to Rs 10.212 billion against previous session’s Rs 5.801 billion.

Read more: CHINA, SAUDI ARABIA TO PROVIDE $13BN PACKAGE TO PAKISTAN: DAR

According to market experts, the investors have reposed their confidence in trading after the announcement of Finance Minister Ishaq Dar that China and Saudi Arabia to provide $13 billion package to Pakistan.

Talking to journalists, Ishaq Dar said that during Prime Minister Shehbaz Sharif recent visit to Beijing, the Chinese leadership promised to roll over $4bn in sovereign loans, refinance $3.3bn commercial bank loans and increase currency swap by about $1.45bn — from 30bn yuan to 40bn yuan.

“China and Saudi Arabia have given assurances to Pakistani delegations under Prime Minister Shehbaz Sharif during recent visits that they will take care of Islamabad’s financial requirements till June 2023,” he said.

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