KARACHI: The Pakistan Stock Exchange’s most reliable KSE-100 index recorded gains of almost a 1000 points here on Monday.
The gains are attributed to the agreement reached by the Tehreek-i-Labbaik Pakistan and the government over the stand-off, and the finance minister’s statement related to ongoing discussions with the International Monetary Funds.
According to Finance Minister Shaukat Tarin, an agreement for a $6 billion Extended Fund Facility (EFF) will be signed this week.
Executive Director at Intermarket Securities, Raza Jafri, has said that the agreement between the government and TLP abled the negotiations with the IMF.
A gain of 641 points was recorded in the benchmark index closing the week at 46,219 points. Last week the stock market was down in the first two sessions but gained 500 points after the announcement of $3 billion support package from Saudi Arabia.
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