KSE-100 up over 500 points, crosses 47,000

The Pakistan Stock Exchange (PSX) maintained its positive trend on Thursday, with the benchmark KSE-100 Index trading well over the 47,000 barrier.

At 11:50 a.m., the benchmark index was trading at 47,252.10, up 569.58 points or 1.22%.

If the advances continue, the KSE-100 Index will close above 47,000 for the first time in 21 months.

On Thursday, buying was seen in index-heavy sectors such as automakers, cement, chemicals, commercial banks, oil and gas exploration businesses, and OMCs.

Experts attributed the rise to news of a loan rollover from China’s EXIM Bank, as well as business profits and other favorable causes.

Finance Minister Ishaq Dar said on Twitter on Thursday that China’s EXIM Bank has rolled over principal payments on $2.4 billion in loans for two years.

“Chinese EXIM Bank has rolled over for two years the principal amounts of the following loans totaling $2.4 billion that are due in the next two fiscal years, namely FY2023-24: $1.2 billion; FY2024-25: $1.2 billion,” Dar stated.

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