KARACHI — While markets rejoiced over rumours regarding anticipated inflows from Saudi Arabia, a bullish trend was seen at the Pakistan Stock Exchange (PSX) on Thursday.
The benchmark KSE-100 Index moved well over the 40,000 level during intraday trading.
The KSE-100 Index was up 633.74 points or 1.6% as of 1:50 p.m., trading at 40,350.89.
The purchasing was widespread, and index-heavy industries including the auto, cement, chemical, commercial banks, oil & gas exploration businesses, and OMCs all saw favourable trade.
Experts said that news that the Kingdom of Saudi Arabia reportedly gave the International Monetary Fund (IMF) assurances that it will deposit $2 billion in Pakistan, a crucial step for the renewal of the IMF’s bailout program, was what gave the market its upward trend.
