600-point gain takes KSE-100 index close to 50,000 mark

The share prices went through the roof at Pakistan Stock Exchange (PSX) on Thursday with the benchmark KSE-100 index smashing the 49,000 barrier and marching swiftly towards 50,000 mark after gaining more than 600 points, reported 24NewsHD TV channel.

The KSE-100 index gained 617 points from the previous close of 48,764.55 points and stood at 49,378 points during trading near mid-day.

Experts said that the KSE-100 index had crossed 49,000 points for the first time in six years, adding the stock market had last achieved this milestone on June 9, 2017.

The stock market had gained 7,686 points, or 18.5 percent, since Pakistan had reached a standby agreement with the International Monetary Fund (IMF).

KSE100 crossed 49k level, six year high level

KSE-100 index went up by 374 points (49,139 pts, +0.77%, on intraday basis) DoD ; the 49k level crossed after ~ six years (last seen on June 09, 2017).

The market gained 7,686 points (+18.5%) since staff level agreement with the IMF… pic.twitter.com/qQXaMFpfro

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Reporter Ashraf Khan