The Pakistan Stock Exchange (PSX) began the new week on a positive note with the benchmark KSE-100 Index surging by more than nearly 800 points in early trading on Monday.
The positive momentum was driven largely by investor optimism ahead of the International Monetary Fund’s (IMF) Executive Board meeting, where approval for a $1 billion disbursement to Pakistan is expected today (Monday).
By 12pm, the KSE-100 Index stood at 167,884.51 points, reflecting an increase of 798.93 points, or 0.48%.
Robust buying activity was seen across major sectors such as cement, commercial banking, fertiliser, oil and gas exploration, oil marketing companies, and power generation.
The upbeat start follows last week’s steady performance, during which the PSX continued its upward trajectory. By Friday’s close, the benchmark index had settled at 167,085.58 points, recording a 0.2% week-on-week gain.
Meanwhile, the Pakistani rupee also appreciated slightly against the US dollar in early inter-bank trading. At 10am, the currency traded at 280.23, marking a gain of Rs0.19.
