PSX exceeds 3,648 points as investors bet on the smooth IMF loan decision

• Stocks were recovered by 2% in the first 30 minutes of negotiation on Friday.
• The index struck an intraodam high of 107,541.45 and a low of 102,420.
• Analsyts say that the fall of cross -border hostilities has reinforced emotion.

Stocks made a strong return on Friday, fueled by an increase in optimism before the IMF executive council meeting, with investors betting on a smooth green light for Pakistan’s loan program.

Investors seemed to regain some confidence after the premature trade that went through without new incidents that could ring the feeling.

The KSE-100 index of the Pakistan Stock Exchange (PSX) increased by 3.52%or 3,648 points to be installed to 107,174.63.

The index hit an intraodam high of 107,541.45 and a low of 102,420.82, reflecting the strong optimistic feeling throughout the session.

The total volume of negotiations amounted to 238.4 million shares, while the value of the shares was traded at 22 billion Rs.

“After a 6% abrupt reduction yesterday due to drone attacks, stocks were recovered by 2% in the first 30 minutes of negotiation on Friday,” said Topline Securities Mohammad Sohail CEO.

“So far, there have been no news for any significant escalation to help restore trust,” he added.

The brokerage in a post -purchase note stated that this recovery was due to optimism at the IMF executive council meeting scheduled to consider the loan program, where the market is mainly expected to be smoothly approval.

“The overall reduction in cross -border hostilities also provided stimulus to investor feeling,” the report added.

Investor focus is firmly set at the IMF executive council meeting today, where the disbursement of $ 1.3 billion in the context of EFF’s 37 -month continuous facility (EFF) is for approval.

The Board of Directors will also consider Islamabad’s request to amend the performance criteria and access to funds based on the resilience and sustainability unit (RSF). The IMF and the Pakistan government reached a personnel agreement in March during the first review of the $ 7 billion program.

If approved, the upcoming dose will bring total disbursements to about $ 2 billion.

Friday’s moves come one day after the fall of the PSX history, as the KSE-100 index sank by 6,482.21 points or 5.89%, to close at 103,526.81 on Thursday.

The market circuit switch was activated after the fall of the KSE-30 index more than 5% in five consecutive minutes, leading to one-hour break.

During Thursday’s meeting, the KSE-100 had reached a high level of 111,881.03 and fell as low as 101,598.91.