The Pakistan Stock Exchange (PSX) maintained its upward trajectory on Thursday, with the KSE-100 index surpassing 81,700 points.
By mid-day, the index had reached approximately 81,700.56 points, marking an increase of 1,239.23 points or 1.54% from the previous day’s close of 80,461.33.
During the session, the index peaked at 81,727.40 points and dipped to a low of 80,680.23. Trading volumes hit 40.6 million shares, valued at Rs3.54 billion.
Analysts on Wednesday attributed the bullish trend to optimistic expectations surrounding the IMF’s upcoming review of a $7 billion Extended Fund Facility (EFF) for Pakistan, significantly enhancing market confidence.
Read: PSX Bulls Surge: KSE-100 Climbs Over 900 Points in Robust Rally
Ahsan Mehanti, Managing Director of Arif Habib Corp, commented, “Stocks rallied on speculation tied to the IMF board meeting on September 25, which will consider a $7 billion EFF. Positive economic data indicating rising remittances and exports and a decreasing trade deficit have buoyed the market.”
Further bolstering investor sentiment, the Asian Development Bank (ADB) confirmed a $2 billion annual concessionary loan to Pakistan until 2027, coupled with the rupee’s stability.
The market’s rally spanned several key sectors, driven by increasing remittances and exports, which helped uplift the economic outlook. The declining trade deficit also supported this positive trend.
Analysts predict that, with strong economic indicators and anticipated financial inflows, the PSX will likely continue its bullish pattern in the upcoming days.
