KSE-100 gains 452 points on expected IMF deal this week

Share prices rose on Monday with the benchmark KSE-100 index gaining 452.03 points, or 1.08 per cent, to reach 42,246.69 points at 10:38am.

Intermarket Securities’ Head of Equity Raza Jafri attributed the gains to market expectations that the government would clinch a desperately needed staff-level agreement (SLA) with the International Monetary Fund (IMF) this week.

“The reported extension in Saudi Arabia’s deferred oil facility by a year is also being looked upon favourably,” he added.

More to follow.