April 09, 2024 (MLN): The benchmark KSE-100 index broke through the psychological level on Tuesday immediately after the commencement of trading, as the index surged past 70,000.

The index was up 526 points or 0.76% to trade at 70,147 around 09:30am.

In the broader market, the All-Share index was at 45,970.39 with a net gain of 273.20 points

To note, the KSE-100 has gained 28,684 points or 69.2% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 7,686 points, equivalent to 12.31%.

The relentless rally, which began last year after the country avoided default with the assistance of the International Monetary Fund (IMF), was further boosted by better-than-expected conclusion of general elections, anticipation of interest rate cuts, and fresh inflows from the IMF.

This was further complemented by the government’s efforts to restructure and privatize Pakistan International Airlines Corp (PSX: PIAA).

Copyright Mettis Link News

Posted on: 2024-04-09T09:31:33+05:00