The Pakistan Stock Exchange (PSX) saw a strong bullish trend on Friday, with shares gaining over 900 points. Analysts credited this surge to the International Monetary Fund (IMF) expressing its readiness to collaborate with the new government. The KSE-100 index closed at 62,815.81 points, marking a 1.46% increase from the previous day’s close.
The IMF’s statement about engaging with the new government to ensure economic stability and prosperity for all citizens was well received by market experts. They noted that the willingness of the IMF to negotiate a new program with the incoming government, along with the anticipation of the finance minister’s appointment, contributed to the positive sentiment in the market.
Investor confidence was restored due to the IMF’s commitment to supporting economic stability in Pakistan. The market closely monitored key upcoming events, including the government’s formation, reactions from the opposition, and the final review of the Stand-By Arrangement with the IMF. The increase in trading volume also indicated growing investor interest in the market, with the KSE-100 recording a volume of 197 million shares, a 15% increase from the previous session.