The Pakistan Stock Exchange (PSX) witnessed a strong rally on Wednesday, with the benchmark KSE-100 index soaring 1,588 points at its peak before closing at 117,772 points, up 1,139 points (0.98%).

Market sentiment was buoyed by the staff-level agreement with the International Monetary Fund (IMF), which restored investor confidence.

Topline Securities noted that the agreement played a key role in fueling the market’s gains.

The bullish momentum was largely driven by UBL, OGDC, PPL, MEBL, and MARI, which collectively added 883 points to the index.

Read more

PSX kicks off 2025 with KSE-100 index soaring over 2,100 points

PSX sees strong gains as KSE-100 index jumps

PSX closes higher as KSE-100 gains 663 points amid IMF optimism

On Tuesday, the IMF confirmed a deal with Pakistan, which includes a new arrangement worth $1.3 billion and the first review of the ongoing 37-month bailout programme.

Trading activity remained robust, with 355 million shares changing hands, generating a turnover of Rs37 billion. PAEL led the volume chart, with 29 million shares traded.

According to Ahsan Mehanti of Arif Habib Corp, the market reacted positively to the IMF’s approval of a new $1.3 billion under the RSF and $1 billion under the existing $7 billion EFF bailout programme.

Additionally, the government’s revised inflation forecast for March 2025, lowering it to 1%, further boosted investor sentiment.

“Surging global crude oil prices and updated feasibility reports confirming $60 billion worth of Reko Diq reserves, with OGDCL and PPL as key stakeholders, acted as major catalysts for the bullish close,” Mehanti added.