The Pakistan Stock Exchange (PSX) opened the week strongly, surpassing the 81,000 mark following the announcement of a new agreement with the International Monetary Fund (IMF).
The KSE-100 index rose by 1,168.64 points, a 1.46% increase, peaking at 81,112.73 points during intraday trading. This significant boost is due to the positive sentiment surrounding the IMF’s staff-level agreement, which promises a $7 billion aid package over 37 months.
This financial support is anticipated to bolster macroeconomic stability and facilitate crucial taxation, energy, and fiscal distribution reforms between central and provincial governments.
Contrastingly, the market had experienced a slight dip the previous Friday, closing by 48.26 points or 0.06% at 79,944.10 points after a Supreme Court decision limiting government powers for constitutional amendments.
