PSX surges over 1,600 points as IMF talks boost investor confidence

KARACHI: The Pakistan Stock Exchange (PSX) extended its upward trend on Wednesday, with the benchmark KSE-100 Index gaining more than 1,600 points as investors remained optimistic about progress in Pakistan’s ongoing discussions with the International Monetary Fund (IMF).

By 12:38pm, the KSE-100 Index had climbed 1,610.96 points, or 0.95%, to 171,211.36 from the previous close of 169,600.40.

The market opened on a positive note, with the index rising 947.20 points, or 0.56%, to 170,547.60 shortly after trading began. Buying interest remained strong during the morning session, keeping the benchmark above the 170,000-point level.

The index touched an intraday high of 171,492.52 and a low of 170,041.98. Trading remained active, with around 81.96 million shares changing hands at a total value of approximately Rs5.97 billion.

Investor sentiment was largely supported by expectations surrounding the IMF review of Pakistan’s economic programme. The government is currently holding discussions with an IMF mission, and market participants are closely monitoring the talks for indications about future financing and economic policy.

Developments in international oil markets also remained on investors’ radar. Crude prices rose after US President Donald Trump rejected reports that he was prepared to ease sanctions on Iran, while Qatar continued diplomatic efforts aimed at reducing tensions between Washington and Tehran.