In a robust morning session on Wednesday, bulls continued to dominate trading at the Pakistan Stock Exchange (PSX), propelling the benchmark KSE-100 index to a record high of over 80,000 points. Investor enthusiasm, buoyed by expectations of a new IMF loan deal and ongoing dividend payouts, contributed to a swift rise of nearly 800 points.
The KSE-100 index surged by 671.09 points to reach 80,223.97 points amid growing confidence in the financial markets. This rally follows Tuesday’s historic close above the 79,000 mark, marking unprecedented levels in PSX history. Throughout the trading session, the index steadily accumulated gains with increased trading volume compared to previous sessions, closing on Tuesday with a substantial 728.55-point increase.
In a significant development, Finance Minister Muhammad Aurangzeb highlighted that Pakistan has largely completed the prior actions required for the IMF loan program. He emphasized that additional structural benchmarks are on track to be met as part of Islamabad’s efforts to secure a comprehensive and long-term IMF deal. Aurangzeb characterized the upcoming agreement not just as an IMF deal but as a “Pakistan program,” underscoring its focus on implementing essential economic reforms crucial for the country’s transformation.
The bullish momentum at PSX reflects growing investor confidence amidst positive economic indicators and strategic government initiatives. As discussions with the IMF progress, stakeholders anticipate further clarity and support for Pakistan’s economic agenda.
