Karachi: After a sharp initial decline, the shares recovered on Tuesday operated by optimism on the upcoming decision by the International Monetary Fund (IMF), as investors removed regional tension, betting on economic stability and basic things.
The Pakistan Stock Exchange (PSX) benchmark KSE -100 index grew by 808 points, or 0.71%, settled at 114,872.18 between continuous investor interest and higher volume.
The market used to rally throughout the session, killing an Intrade high of 115,040.58, shy with its record levels, while the day was less than 112,935.56.
The trading activity remained strong, with more than 185 million shares change, causing a total value of Rs. Was 22.38 billion. The previous close was recorded at 114,063.90.
Analysts blamed recovery for the announcement that the IMF Executive Board would soon be approved for a $ 1.3 billion loan for Pakistan and a 28 -month -old support program to help the country deal with long -term economic challenges.
The IMF board is to fulfill the $ 1.3 billion Employees-Employment Agreement (SLA) with Pakistan on 9 May as part of its ongoing 37-month bail program.
The meeting will complete the extended Fund Facility (EFF) of Pakistan, requested for amendment of performance criteria, and flexibility and stability facility (RSF), according to the statement issued by the IMF.
Washington -based lender and Islamabad arrived at a SLA and agreed to the first review of $ 7 loan facility in March. The 28 -month deal, SLA, would support Pakistan’s efforts, which would support efforts to reduce and adapt climate change, the IMF then said.
If approved by the IMF Executive Board, Pakistan will have approximately 1 billion dollars under EFF, which will make the total recitation of about 2 billion dollars under the program.
Prior to the upcoming meeting, Finance Minister Muhammad Aurangzeb recently met IMF Managing Director Christalina Jorgetwa on the occasion of WB/IMF Spring Meets 2025 in Washington and confirmed the government’s commitment to reforms in major areas.
According to a report by Topline Securities, the benchmark index experienced significant ups and downs during today’s session. This pressure fell early 1,128 points a day due to selling pressure, especially from leveraged investors. However, the market showed a strong recovery in the second half, gaining 114,872 points, 808 points or 0.71%.
The report said, “The market spirit has improved because margin-related sales have declined, and investors have started buying quality stocks at lower levels.”
Brokerage said the recovery was mainly run by major shares such as Nagro Corporation, Mari Petroleum, Systems Limited, MCB Bank and Sui Northern Gas Pipelines.
“These stocks alone contributed to the overall index profit in 760 points, which highlights their strong impact on the market movement,” the report said.
The investor activity remained healthy, with a total turnover of 408 million shares and a market business of Rs 29 billion. WorldCol Telecom once again led the volume chart, with 29 million shares.
