The Pakistan Stock Exchange (PSX) experienced a positive trend on Wednesday, with the KSE-100 index rising above 66,000 points after gaining 500 points. The index climbed by 487.25 points during intra-day trading, reaching 66,392.52 points by 12:58 pm, and is expected to continue increasing by the market's close.
Key sectors like automobile, cement, commercial banks, and refinery witnessed significant buying activity. This surge reflects investor optimism due to the government's focus on privatization.
The newly formed government is anticipated to receive $1.1 billion from the International Monetary Fund (IMF) following a staff-level agreement. The agreement, reached during discussions led by Nathan Porter from March 14-19, 2024, is pending approval by the IMF's Executive Board. Upon approval, the remaining access under the $3 billion Stand-By Arrangement (SBA) will become available.
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