Pakistan Stock Exchange (PSX) on Monday started first day of trading on a positive note amid hope of positive outcome of the recently concluded talks with the IMF about the unlocking of loan tranche, reported 24NewsHD TV channel.
At the final session of trading, the PSX’s benchmark KSE-100 Index gained 663.43 points, or 0.57%, to close at 116,199.59, up from the previous close of 115,536.16.
On Friday, the PSX ended the previous week on a positive note, with the KSE-100 index gaining 442 points, closing at 115,536.16.
Throughout the week ending March 14, 2025, the index posted a net gain of 1,137 points, or 1% week-on-week basis.
Experts said one reason is mainly the development regarding the IMF, particularly the significant progress observed in the Staff Level Agreement (SLA). Secondly, the ongoing news about circular debt, which has been circulating for the past few weeks. These are the two primary reasons driving the market.
Meanwhile, efforts to manage the energy sector’s circular debt continued to gain attention. The Ministry of Energy’s Power Division informed the National Assembly last week that the circular debt had decreased by Rs9 billion during the first half of the fiscal year, falling from Rs2,393 billion in June 2024 to Rs2,384 billion by December 2024. The government attributed this decline to ongoing reforms and financial restructuring.
Reporter: Basim Iftikhar