Skip to main content

Bullish momentum at PSX as shares gain 1,400 points after SBP receives 2nd IMF tranche

Bulls took control of the Pakistan Stock Exchange (PSX) on Thursday as shares gained over 1,400 points, bringing calm to yesterday’s heightened volatility.

The positive momentum comes just a day after Pakistan received the second tranche from the International Monetary Fund (IMF), worth $1 billion, under its loan programme.

The KSE-100 index opened with a gain of 858.23 points (0.73 per cent) to stand at 119,394.75 points from the previous close of 118,536.52 at 9:40am.

The intraday high was recorded 119,990.30 points at around 3:18pm, 1,453.78 points (1.23pc) higher than yesterday.

Finally, the KSE-100 closed at 119,961.91 points, with a gain of 1,425.39 points (1.20pc) compared to the previous close.

This screengrab taken at around 3:40pm shows bullish activity at the PSX on May 15, 2025. — PSX data portal
This screengrab taken at around 3:40pm shows bullish activity at the PSX on May 15, 2025. — PSX data portal

Samiullah Tariq, head of research and development at Pak Kuwait Investment Company Ltd, said the market was positive due to the recent inflows from the IMF.

He also noted there were “expectations of further inflows on the back of the IMF Board approval”, which on May 9 greenlit the $1bn tranche but also allowed an additional arrangement for $1.4bn climate funds under the Resilience and Sus­tainability Facility (RSF).

Today’s bullish momentum comes as the market continues to recover from the upheaval brought by the intense military row between Pakistan and India last week, after the two agreed to a ceasefire.

Shares in the subsequent session had gained a record 9pc.

Tariq also mentioned lower yields on treasury bill auctions and expectations of resolution of circular debt in the gas and power sectors.

Last month, the energy ministry had informed the National Assembly that the circular debt had declined by Rs9bn during the first six months of the current fiscal year.



from The Dawn News - Home https://ift.tt/F7IdMsL
Labels:

Comments

Post a Comment

Popular posts from this blog

Ministers rubbish notion that proposed retirement age extension to favour ‘one particular institution’

Information Minister Attaullah Tarar on Tuesday rubbished the notion that a proposed extension in the retirement age was to favour “one particular institution”, adding that the move would be implemented across the board if approved. The rebuttal comes in the wake of media reports claiming that the government was mulling changes to the Constitution to fix the tenure of the chief justice . Currently, judges of the Supreme Court, including the chief justice, retire after attaining the age of superannuation, i.e. 65 years, as stipulated in Article 179 of the Constitution. While giving his opinion recently on the reports of the constitutional amendment, Law Minister Azam Nazeer Tarar had said he “will not vehemently turn down the proposals related to the tenure of the chief justice”. Addressing the issue during a press conference in Islamabad today along since Finance Minister Muhammad Aurangzeb and the law minister, Attaullah said the extension in the retirement age was “a proposal to a...
Post a Comment
Read more

Explainer: Iran’s economy faces rocky road amid rising prices, falling currency

Iran’s economy is going through one of its most difficult periods in years, fueled by sanctions, high inflation, and a significant drop in the value of the national currency, the rial. These pressures have had a direct impact on living standards and have also fueled recent protests. The protests began on Dec. 28 in commercial hubs in the capital Tehran, when shopkeepers, merchants, and small business owners staged strikes and demonstrations to protest soaring inflation, the collapsing rial, and deteriorating economic conditions, and have since grown into nationwide anti-government expressions of discontent involving workers, students, and others across multiple cities. The Iranian president said Sunday that his government is determined to address Iran’s economic problems amid the protests. Masoud Pezeshkian said the government admits to “shortcomings and problems” and is working hard to alleviate the people’s concerns, especially on the economy. Currency collapse at the centre of c...
Post a Comment
Read more

Mitchell Starc surpasses Wasim Akram as most prolific left-arm pacer in Test history

Australian veteran Mitchell Starc became the most prolific left-arm paceman in Test history on Thursday, surpassing Pakistan great Wasim Akram. The 35-year-old bagged England’s Harry Brook at the Gabba in Brisbane on day one of the day-night second Ashes Test for his 415th wicket since his debut at the same ground 14 years ago. It moved him past Wasim, widely recognised as the greatest left-arm bowler the sport has seen. Wasim played 104 Tests for his 414 wickets with Starc reaching the milestone in his 102nd, helped by a career-best 7-58 in the first innings of the opening Ashes Test at Perth. Starc is now 16th on the all-time wicket-taker list and could move above both India’s Harbhajan Singh (417) and South Africa’s Shaun Pollock (421) in the current pink-ball Test. After that he will have New Zealand’s Richard Hadlee (431) in his sights. from Dawn - Home https://ift.tt/xclHiX2
Post a Comment
Read more