Stocks record-breaking spree continues amid hopes of economic turnaround
Business
Stocks trade at 81,600 points after gaining 525 points
KARACHI (Dunya News) – Buoyed by the fresh Fitch report after the Muharram holidays, the stock market continued its upward trajectory by gaining 525 points, hence taking the KSE-100 index to a record high of 81,600 points at the start of the day.
The recent scaling of new peaks in the PSX is mainly believed to be linked with the Staff-level agreement reached with International Monetary Fund (IMF) last week.
Moreover encouraging reports of fiscal stability authored by international financial agencies including Moody’s and Fitch have also contributed in boosting investor’s confidence.
These reports suggest that agreement with the global lender would pave way for the crisis-ridden country to attain macroeconomic stability.
It must be remembered that the stocks were trading at 81,155 points during the last day of trade at the PSX before Ashura holidays.
