In Karachi, significant developments have occurred with the Prime Minister’s visit to Saudi Arabia and the Finance Minister’s trip to Washington, notably the approval of a new program by the IMF.
These developments have sparked a surge in the stock market, marked by historic highs. The 100 index skyrocketed to an unprecedented 73,000 points at the opening of trading, bolstered by a 403-point rise.
Investor confidence is palpable, fueled by optimism surrounding the privatization agenda and constructive discussions with the IMF.
Both local and foreign investors are actively participating, contributing to the market’s upward trajectory. Anticipation surrounding the Prime Minister’s visit to Saudi Arabia, coupled with prospects of the final tranche of the existing program and negotiations for a new loan program, are key drivers of this bullish trend.
Sector-specific investments by both domestic and international funds further contribute to the market’s positive momentum.
