Share prices rallied at Pakistan Stock Exchange (PSX) on Thursday amid optimism regarding positive outcome of the ongoing talks between Pakistan and the IMF for the next loan tranche, reported 24NewsHD TV channel.
The PSX’s benchmark KSE-100 index surged by 1,010 points or 0.88 percent amid optimism surrounding the smooth conclusion of the ongoing negotiations between the Pakistan and the International Monetary Fund (IMF).
The index closed the day at 115,094 points, up from the previous day’s closing level of 114,085 points.
Of the 444 companies traded, share prices of 232 companies went up and of 156 slided with 56 unchanged.
The market exhibited strong bullish momentum, fuelled by positive investor sentiment regarding the IMF review.
Investors responded with aggressive buying across major sectors, further strengthening the index’s upward trajectory. The rally was led by key stocks, including FFC, PSO, LUCK, ENGROH, and MARI, which collectively contributed 506 points to the benchmark index.
Market participation remained robust, with 382 million shares traded during the session, generating a total turnover of Rs 25.4 billion. BOP emerged as the volume leader, with 48 million shares changing hands. Analysts believe that the smooth execution of the IMF program could pave the way for additional inflows and improved macroeconomic indicators, further bolstering confidence in the KSE-100.
Reporter Ashraf Khan