Shares at the Pakistan Stock Exchange’s (PSX) benchmark index gained more than 600 points in the intraday trade, a day after the country’s equities had a mixed day where Bullish and Bearish forces fought to grab the rein of market momentum.

According to the PSX website, the KSE-100 index gained 630.64 points to reach 75,508.76 levels, appreciating by 0.84%, against the previous closing of 74,878.12 levels at 11:23am.

On Thursday, Bulls had the day on their name as the KSE100 index settled the day at 74,878 level after appreciating by 0.06%.

“Contrary to yesterday’s momentum, the day started on a positive note initially. However, investors chose to do some profit taking which compelled the benchmark index to go into negative territory where the benchmark index made an intraday low at 74,585 (-251 points). Nonetheless, value hunters rescued the market at day’s low which ultimately led the index to have a positive closing,” the Topline Securities said in its market review.

Over 368.8 million shares were traded on the second last day of trading week at the bourse while total value clocked in at Rs13.7 billion.

Last week, an International Monetary Fund mission left Pakistan after completing talks with Pakistan for a new bailout package.

According to the mission chief statement, the IMF and Pakistan made significant progress towards reaching a staff-level agreement for an extended fund facility.

The IMF had opened discussions with Pakistan on a new loan programme after Islamabad last month completed a short-term $3 billion programme, which helped stave off a sovereign debt default.

“The mission and the authorities will continue policy discussions virtually over the coming days aiming to finalise discussions, including the financial support needed to underpin the authorities’ reform efforts from the IMF and Pakistan’s bilateral and multilateral partners,” Nathan Porter, the mission chief, said.