PSX: buying continues, KSE-100 up nearly 400 points amid IMF deal
Buying interest was observed at the Pakistan Stock Exchange (PSX) as the International Monetary Fund (IMF) staff and Pakistan reached a staff-level agreement (SLA) on the fourth review of the $7-billion Extended Fund Facility (EFF) and the third review of the Resilience and Sustainability Facility (RSF). At 9:50am, the benchmark KSE-100 index was hovering at 168,978.36, up by 397.96 points or…
The Pakistan Stock Exchange (PSX) saw significant buying interest following the International Monetary Fund (IMF) and Pakistan reaching a staff-level agreement (SLA) on the fourth review of the $7-billion Extended Fund Facility (EFF) and the third review of the Resilience and Sustainability Facility (RSF). The KSE-100 index climbed 397.96 points, or 0.24%, reaching 168,978.36 at 9:50am.
Key sectors such as automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, and power generation experienced increased buying activity. Upon approval by the IMF Executive Board, Pakistan will have access to approximately $1 billion under the EFF and $210 million under the RSF, totaling about $5.7 billion in disbursements.
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