KARACHI – The Pakistan Stock Exchange (PSX) witnessed a remarkable bullish trend on Monday, with the KSE-100 Index soaring past the 81,000-point mark. This surge in the flagship index came within the first hour of trading, as investors reacted positively to the recent staff-level agreement between Islamabad and the International Monetary Fund (IMF).
The KSE-100 Index experienced a single-day gain of 1,248.82 points, equivalent to a 1.56% increase, reflecting renewed investor confidence. This positive sentiment has been buoyed since the recent budget announcement, which notably introduced no new taxes on capital markets.
The IMF agreement has provided much-needed support to Pakistan’s struggling economy, which had previously benefited from a $3-billion loan under the Stand-By Arrangement (SBA). Despite ongoing economic challenges, the PSX has reported significant gains, reaching an all-time high and demonstrating the market’s resilience and investor optimism.