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BusinessLatest

Historic Surge In Stock Market as 100 Index Crosses 170,000 Mark

By Faiz Paracha

KARACHI: Pakistan’s stock market surged to historic levels on Wednesday, with the 100 Index crossing the 170,000-point mark for the first time.

The benchmark index gained 1,006 points during the session, closing at 170,462 points, up from 169,456 points at the previous close.

The surge comes after the International Monetary Fund (IMF) approved a loan installment, boosting investor confidence. The positive trend was seen from the opening bell, as market activity remained strong throughout the trading day.

In parallel, the US dollar weakened slightly, falling by 5 paisa in the interbank market to PKR 280.35, indicating an improvement in the rupee’s value.

Analysts say the combination of IMF support and market optimism has provided a strong tailwind for both equities and the currency.

Faiz Paracha

Faiz Paracha, an esteemed broadcast journalist with over two decades of experience, excels in reporting and editorial positions. His expertise lies in the economy and energy sectors, where he has delivered thorough coverage and valuable insights.

Currently serving as the Head of Reporting at News Diplomacy, Faiz manages coverage related to diplomatic missions, international development organizations, the United Nations, and foreign affairs. His diverse interests encompass environmental and climatic issues, alongside his profound knowledge of business, economy, and energy.

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