PSX climbs back as calm restores investor confidence
PSX climbs back as calm restores investor confidence
PSX climbs back as calm restores investor confidence
KARACHI: The Pakistan Stock Exchange (PSX) on Friday witnessed a rebound after Thursday’s plunge, as the market began the day in relatively calm conditions, helping restore some investor confidence.

The benchmark KSE-100 Index surged to an intraday high of 105,946.01, marking a gain of 2,419.2 points, or 2.33%, from the previous close of 103,526.81.

Despite the upward momentum, volatility persisted, with the index also dipping to an intraday low of 102,420.82 — a drop of 1.06% or 1,105.99 points.

Market sentiment remains closely tied to developments on the economic front, particularly the IMF Executive Board meeting scheduled for today. Investors are watching closely as Pakistan seeks approval for a $1.3 billion disbursement under its ongoing 37-month Extended Fund Facility (EFF).

Islamabad is also requesting modifications to performance criteria and access to funds under the Resilience and Sustainability Facility (RSF).

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The IMF and Pakistan reached a staff-level agreement in March during the first review of the $7 billion programme. If approved, today’s tranche would bring total disbursements to roughly $2 billion.

Friday s recovery comes on the heels of the PSX’s worst single-day drop in history. On Thursday, the KSE-100 Index crashed by 6,482.21 points, or 5.89%, closing at 103,526.81. The market’s circuit breaker was triggered when the KSE-30 Index fell more than 5% within five minutes, prompting a one-hour trading halt.