The Pakistan Stock Exchange (PSX) surged to a fresh all-time high on Tuesday, with market participants showing positive sentiments following the International Monetary Fund’s (IMF) approval for a $1.2 billion loan for Pakistan.
The benchmark KSE-100 Index settled at an all-time high of 169,456.38 points, up 1,153.14 points, or 0.69%, from the previous close of 168,303.24. The index climbed to an intraday high of 169,601.03, gaining 1,297.79 points.
The market rally strengthened further following the IMF’s approval of nearly $1.2 billion under the Extended Fund Facility (EFF) and an additional $220 million under the Resilience and Sustainability Facility (RSF).
The move has kept the combined $8.4 billion programme on track and significantly lifted investor confidence.
The surge was largely fuelled by strong and consistent buying from local mutual funds, which helped sustain positive momentum throughout the session. Major index contributors collectively added around 640 points to the benchmark’s gains.
Trading activity also remained robust. Total volumes crossed 1.02 billion shares, while overall turnover rose to Rs51.1 billion. K-Electric (KEL) dominated the session as the volume leader with 86.7 million shares traded.
With solid liquidity, improving macro indicators, and renewed confidence, the record close reinforces the bullish trend steering the market forward.
The IMF will release $1bn under the EFF and $200 million under the RSF, bringing total disbursements under both programmes to $3.3 bn.
“Today, the Executive Board of the IMF completed the second review of Pakistan’s economic reform program supported by the EFF and the first review of Pakistan’s program supported by the RSF,” the IMF said in a statement.
This decision, it said, allows for an immediate disbursement of around $1 billion under the EFF and around $200 million under the RSF, bringing total disbursements under the two arrangements to about $3.3 billion
The IMF has described the implementation of the ongoing loan programmes as “strong” and has assured the government of continued support for its economic reforms. The release of $1.2bn is expected to further bolster Pakistan’s foreign exchange reserves.
