KARACHI: Bulls dominated the Pakistan Stock Exchange (PSX) on Monday as the KSE-100 benchmark index crossed 2,000 points after the government reached a consensus with the International Monetary Fund (IMF) on a bailout package.
The index opened in the green zone and remained positive throughout the session before the trading was halted for an hour after the index hit its upper circuit limit of 5% at around 9:30am. The trading resumed at around 10:37pm.
When the market opened today, after Eid holidays break, it surged a record 2,231.1 points to 43,683.78 points, rising more than 5%, which forced the suspension.
As the trading resumed after an hour’s suspension, the benchmark index surged to 43,923.71 points — an increase of 5.96% or 2471.03 points — at around 11:20am.
Pakistan secured a $3 billion short-term financial package — subject to approval by the IMF board in mid-July — on Friday.
