Pakistan Stock Exchange makes a big comeback
KARACHI - P*akistan Stock Exchange makes a big comeback.*
Stocks staged a rally on Wednesday with the KSE-100 index benchmark gaining over 1,000 points intraday.
Positive sentiments prevailed at the exchange following confirmations by the finance adviser and SECP chairman that the government is considering putting together a fund to buy equities. The fund, which is aimed at stabilising the stock market, might be launched in the next 10 days.
On the economic front, total foreign loans for the month of April rose to $8.837 billion, an increase of $2.997 billion from March. Total foreign loans acquired during July 2018 – April 2019 stand at $14.837 billion, which is 45pc higher than the same period last year.
Surging by 2.90pc, the KSE-100 Index benchmark touched its day’s peak at 35,993.61. The index settled higher by 1,010.15 points at 35,959.43.
The KMI 30 Index gathered 2,388.99 points to close at 58,336.11, whereas the KSE All Share Index was up by 518.12 points, ending at 26,097.02. The advancers to decliners ratio stood at 232 to 73.