KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) opened in positive territory amid hopes for release of funds by the International Monetary Fund (IMF) under the loan programme.
The KSE-100 current index stands at 168,846.76, up 434.53 points, marking a 0.26% increase from the previous close of 168,412.23.
Trading saw the index reach a high of 169,686.03, while the intraday low stood at 168,846.76.
Market activity included a total volume of 86,903,041 shares, with a traded value of 3,707,988,595.
Investors appear cautiously optimistic as the market begins the day on a steady note, reflecting modest upward momentum.
A day earlier, the benchmark index continued with bearish trend on Tuesday, losing 1,085.12 points, a negative change of 0.64 percent, closing at 168,412.23 points against 169,497.36 points on the last trading day, according to PSX data.
During the session, the ready market recorded a trading volume of 1,190.338 million shares with a traded value of Rs 34.542 billion, compared to 780.227 million shares valuing Rs 33.420 billion in the previous session. The market capitalization decreased to Rs 18.646 trillion from Rs 18.747 trillion a day earlier.
Out of 482 active companies in the ready market, 168 advanced, 284 declined, and 30 remained unchanged.
IMF has scheduled an Executive Board meeting on May 8 to consider the approval of a $1.2 billion tranche for Pakistan.
According to an official statement issued by the IMF, the Board will review Pakistan’s performance under the Extended Fund Facility (EFF) program. The approval is linked to the successful completion of the third economic review, which is expected to be endorsed during the meeting.
The statement further noted that the Board will also take up the second review under the Resilience and Sustainability Facility (RSF), a program aimed at supporting countries in addressing climate change challenges.
Pakistan and the IMF had reached a staff-level agreement on March 27, paving the way for the upcoming Board consideration. The approval of the tranche would provide much-needed financial support to stabilize the country’s economy and strengthen its external position.