IMF Triggers Strong Rally As PSX Closes Above 117,000 After Staff Level Agreement

The Pakistan Stock Exchange (PSX) performed strongly on Wednesday, with the benchmark index reaching a high of 1,588 points. It closed at 117,772 points, marking a gain of 1,139 points (0.98 percent). Topline Securities agreed that today’s surge was fuelled by investor optimism following a staff-level agreement with the International Monetary Fund (IMF), which boosted market confidence. The market’s gains were primarily driven by United Bank Limited (PSX: UBL), Oil & Gas Development Company Limited (PSX: OGDC), Pakistan Petroleum Limited (PSX: PPL), Meezan Bank Limited (PSX: MEBL), and Mari Energies Limited (PSX: MARI), which together contributed 883 points to the index. A total of 355 million shares were traded, with a turnover of Rs. 37 billion. Pak Elektron Limited (PSX: PAEL) led the volume chart, with 29 million shares exchanged.