PSX surges over 2,200 points as investor sentiment improves
Business
PSX surged by 2,252.87 points, reaching 160,436.81, amid optimism over the IMF's expected $1.2 billion loan tranche release. Investor sentiment remained positive despite economic uncertainty
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) maintained the positive momentum on Thursday amid hopes for release of $1.2 billion loan tranche by the International Monetary Fund (IMF) next month.
The KSE-100 index began the day on a strong note, as it surged by 2,252.87 points, bringing it to a current value of 160,436.81.
This represents a solid gain of 1.42% compared to the previous session's close of 158,183.94.
The upward movement in the market suggests a positive shift in investor sentiment, reflecting optimism despite ongoing economic uncertainties.
The IMF has scheduled a meeting of its Executive Board on December 8 when it is expected to approve the release of funds for Pakistan under two ongoing loan programmes.
A day earlier, the benchmark KSE-100 index witnessed a modest gain of 313.44 points, a positive change of 0.20 points, closing at 158,183.95 points compared to 157,870.50 points on the previous day.
A total of 757.24 million shares valuing Rs33.41 billion were traded in the ready market compared to 836.42 million shares worth Rs38.07 billion a day earlier. The market capitalization stood at Rs18.07 trillion against Rs18.08 trillion previously.
Out of 480 companies active in the session, 188 closed higher, 235 declined, and 57 remained unchanged.
