PSX bullish ahead of expected clearance of $7b IMF bailout review

KARACHI: The Pakistan Stock Exchange in the last session of the week continued its gains by moving up 441.93 points or (0.38%) closing at 115,536.16 level, on expectation that Pakistan will clear the International Monetary Fund (IMF) review, analysts said on Friday.

“Benchmark 100 index extended its gain as expectation that Pakistan will clear its first review of $7 billion IMF EFF bailout programme continue to garner investors interest,” Topline Securities stated.

KSE 100 index gained +442 points to close at 115,536 level up by (+038%). Top positive contributions to the index came from MARI, FFC, EFERT, SYS, AIRLINK, and PAEL, as they cumulatively contributed +426 points to the index.

“The benchmark index closed on a positive note as investor sentiment improved following news surrounding IMF’s decision to lower the FBR’s tax collection target by Rs 620 billion. This development brought the country closer to meeting key requirements, fueling optimism about successful completion of the IMF review,” Ismail Iqbal Securities noted.

Traded value wise MARI (Rs.2.68 billion), PSO (Rs.2.19 billion), MLCF (Rs.1.07 billion), DGKC (Rs.875 billion), FCCL (Rs.848 million), and LUCK (Rs.612 million) dominated the trading activity.

Traded volume and value for the day stood at 360 million shares and PKR.21 billion respectively. 

Gold hits all-time high of Rs314,000 per tola in Pakistan

On a weekly basis the KSE 100 Index increased 1% on WoW basis, this gain can be accredited to debt rollover of $1 billion by China and positive news flow from talks with the IMF team for the first review of the $7 billion EFF programme.

Other major developments during the outgoing week were: 1) State Bank of Pakistan maintained its monetary policy rate at 12%, 2) Pakistan workers remittances for February 2025 clocking in at US$3.1 billion up 39% YoY and 4% MoM, and 3) Pakistan Car sales as reported by PAMA for Feb 2025 coming in 12,084 units up 24% YoY while 29%MoM, Topline Securities weekly review note stated.