PSX Sees Rapid Gains Post IMF Deal
Following a staff-level agreement with the International Monetary Fund (IMF), the Pakistan Stock Exchange experienced rapid gains on Wednesday.
The KSE 100 Index surged by over 400 points, driven by positive sentiment in the money market following the favorable economic development. Starting the day on a positive note, the market rose by 0.61%, reaching 65,902.63 points. The insurance sector’s substantial buying and the IMF’s approval played pivotal roles in propelling the market upwards.
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The upward trajectory of the stock market aligned with expectations, as investors anticipated a seamless IMF review following the appointment of the new finance minister and the achievement of all targets.
Moreover, Pakistan’s dollar bonds witnessed increased trading activity, with the 2027-maturing bond rising by 0.25 cents and the 2025 bond climbing by 0.21 cents against the US dollar.
