PSX sheds over 480 points in intraday trade

KARACHI: The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index, after reaching 82,905 points earlier in the day, dropped by 481 points to 81,766 after 2:00 PM.

By 2:35 PM, the KSE-100 index stood at 81,810.42, down approximately 0.41 per cent, or 437 points, from its previous close of 82,247 on Wednesday.

The stock market remains volatile, with the PSX witnessing an intraday high of 82,905 and a low of 81,766.

It is worth noting that this is the first trading session following the approval of a $7 billion loan from the International Monetary Fund (IMF), with the first installment of $1.1 billion expected to be released on September 30.

The new programme will require robust policies and reforms to bolster the authorities’ ongoing efforts to enhance macroeconomic stability, address significant structural challenges, and foster conditions for stronger, more inclusive, and resilient growth.

Sustained financial support from Pakistan’s development partners and bilateral allies will also be essential for the programme to achieve its goals.

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