KARACHI – Pakistan Stock Exchange bounced back as traders and investors expected a positive outcome in the impending talks with the International Monetary Fund (IMF) for the resumption of bailout funds
On the first working day of the week, the equity market’s benchmark KSE-100 index moved up by more than 1,000 points as crisis hit country likely to ink a deal with US-based lender.
The benchmark index rose 1,033.02 before noon amid change of sentiment in the money market as investors were looking for such development.
Market pundits claimed that changes in Finance Bill 2023-24, and other changes like revocation on imports collectively rekindled hopes among the market stakeholders.
Amid different reports, Pakistani authorities claimed that IMF could sign the staff-level agreement (SLA) within this week.
Pakistan approved Finance Bill 2023-24 with a majority vote, making changes proposed by IMF.
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