Islamabad July 1 2023: Pakistan equity index KSE-100 likely to gain more than 2,000 points when it opens on Monday as suggested by movement in Global MSCI Pakistan ETF.
The Global MSCI X Pakistan ETF gains 5.53 percent or 0.68 points to 12.98 on Friday after Pakistan secure $3 Billion bailout from IMF. This movement suggest rally of around 2,250 points in KSE-100 index.
"Pakistan ETF was up 5.5 percent on Friday after IMF deal. Pakistan market was off due to Eid holidays. This ETF trend signals a rally of close to 2,000 points in KSE 100 index on Monday when market opens" says Muhammad Sohail Chief Executive Officer at Topline securities.
On Friday, the IMF staff and the Pakistani authorities have reached a staff-level agreement for the disbursement of amount of USD 3 billion on policies to be supported by a Stand-By Arrangement (SBA).