PSX Surges Over 1,600 Points as IMF Talks Boost Investor Sentiment
KARACHI, PAKISTAN — WEB DESK: The Pakistan Stock Exchange (PSX) staged a strong rebound on Wednesday, with the benchmark KSE-100 Index gaining more than 1,600 points as optimism surrounding Pakistan’s ongoing talks with the International Monetary Fund improved investor sentiment.
By 12:38pm, the KSE-100 Index stood at 171,211.36 points, up 1,610.96 points, or 0.95%, from the previous session’s close of 169,600.40.
The benchmark remained in positive territory during the session as investors responded to expectations of progress in discussions between Pakistani authorities and the visiting IMF mission.
Pakistan and the IMF have formally started discussions for the fourth review of the $7 billion Extended Fund Facility, alongside the third review of the $1.4 billion Resilience and Sustainability Facility.
Successful completion of the two reviews could pave the way for approximately $1.2 billion in financing, including about $1 billion under the main economic programme and another $200 million under the climate resilience facility.
Finance Minister Muhammad Aurangzeb held the opening meeting with the IMF mission led by Iva Petrova, an adviser in the lender’s Middle East and Central Asia Department.
Wednesday’s rally followed a weaker previous session in which the KSE-100 dropped 825.22 points, or 0.48%, to close at 169,600.40.
The earlier decline had been driven by concerns over elevated international oil prices, uncertainty surrounding the Middle East and caution ahead of progress in the IMF review.
Investors continue to monitor both domestic economic developments and external risks, particularly energy prices and geopolitical tensions that could affect Pakistan’s import costs and external account.
The latest rebound pushed the benchmark back above the psychologically important 171,000-point level, although market direction could remain sensitive to developments in the IMF negotiations and global energy markets.
