Karachi: Pakistan Stock Exchange's benchmark KSE-100 index jumped past 47,000 mark to 21-month high, with market expected to gain further following positive sentiment in market after International Monetary Fund deal.

Benchmark index moved up by 394.47 points and closed day at 47,076.9 points, highest level since November 8, 2021, according to Arif Habib Limited.

He said that KSE-100 is currently trading at PER of 3.7x as compared to last financial crisis (2008) when lowest was 3.9x.

Shares of 344 companies were traded during session. At close of trading, 146 scrips closed in green, 182 in red and 16 remained unchanged. Worldcall Telecom Limited was volume leader with 40.14 million shares traded, losing 0.02 paisa to close at Rs 1.39. It was followed by K-Electric Limited with 30.12 million shares traded, remaining same to close at Rs 2.30 and Oil and Gas Development Company with 28.45 million shares gaining Rs 4.97 to close at Rs 91.79.

Capital market expert Saad Ali said IMF optimism and outlook for greater macro stability had complemented good corporate results in present result season.

"Many banks and companies have surprised with their earnings and payouts despite tough macro backdrop," expert added. Pakistan's signed short-term deal with IMF late last month, enabling country to stave off default and shore up its foreign exchange reserves.