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.
