The Pakistan Stock Exchange (PSX) staged a robust recovery on Friday, with the benchmark KSE-100 Index surging over 2,200 points in early trading, following a record-breaking drop the previous day. By 9:40am, the index had climbed to 105,759.27 points, marking a gain of 2,232.46 points, or 2.16 per cent, as investor confidence improved amid easing geopolitical concerns and hopes tied to upcoming International Monetary Fund (IMF) decisions.
The rally was bolstered by broad-based buying across major sectors, including automobiles, cement, banking, oil and gas, and power generation. Heavyweight stocks such as HUBCO, MARI, OGDC, PPL, POL, PSO, and SNGPL all traded positively, driving the market rebound. Analysts noted that Friday’s upswing reflected a technical correction after Thursday’s sharp fall, coupled with reassurance due to the absence of fresh escalations between Pakistan and India.
Also Read: Geopolitical Tensions Drag PSX Down Nearly 900 Points
Investor focus also shifted towards the IMF Executive Board’s meeting scheduled for Friday, where discussions are set to review Pakistan’s progress under the $7 billion Extended Fund Facility (EFF) and its request for additional financing under the $1.3 billion Resilience and Sustainability Facility (RSF). Approval could result in a combined disbursement of approximately $2.3 billion to support economic stability and climate resilience initiatives.
The dramatic reversal came after Thursday’s steep 6,500-point decline, which saw the index drop to 103,526.82 points, largely driven by political uncertainty and security concerns. Globally, markets remained mixed, with Japanese, Taiwanese, and Australian equities advancing, while Chinese stocks showed mild losses amid cautious trade sentiment.
