KARACHI: The Karachi Stock Exchange’s benchmark index hit an all-time high Monday on investors’ optimism over better economic prospects and hopes that country’s political crisis would end soon.
In afternoon trade, the benchmark 100-share index was trading at historic high of 31,308.62 points, up 378.58 points or 1.22 percent. Over 109 million shares changed hands since the start of trade.
Our correspondent said that the index crossed the historic 31,000-point level for the time as investors are optimistic over economic prospects following positive signals from the International Monetary Fund that Islamabad would receive the $1.1 billion tranche.
Moreover, the market also reacted positively to recently concluded Prime Minister Nawaz Sharif’s visit to China in which over agreements worth over $40 billion were signed between the two countries.
Investors also believe that the current political crisis is easing. – Samaa