Pakistan Stock Market Rallies Over 1,000 Points, KSE-100 Index Crosses 113,000 Mark
Oil Price Drop and IMF News Boost Pakistan Stock Market
KARACHI: Investors showed strong buying interest in cement, oil & gas, and power sector shares, leading to a bullish trend in the Pakistan Stock Exchange (PSX) on Thursday. The benchmark KSE-100 Index surged by 1,020 points, reaching 113,274 points, surpassing the 113,000 mark once again.
The rally was largely driven by global crude oil prices dropping to their lowest level in 3.5 years, providing positive news for Pakistan’s economy. This development was further bolstered by reports of the International Monetary Fund (IMF) being willing to accept a reduction in Pakistan’s tax collection target, which boosted investor confidence.
Read more: IMF Urges Pakistan to ‘Do More’ in Economic Review Talks
Market participants are now keeping a close eye on the upcoming monetary policy decision, which is set to be announced on March 10. The policy decision is expected to have a significant impact on future market trends.
