The Pakistan Stock Exchange (PSX) continued its positive momentum on Tuesday, with the benchmark KSE-100 Index gaining nearly 1,200 points during the opening hours of trading.
At 10:30 am, the KSE-100 Index stood at 115,525.73, marking an increase of 1,195.63 points or 1.05%. The rally was led by widespread buying across key sectors including cement, commercial banks, fertiliser, oil and gas exploration companies, OMCs, and refineries. Index-heavy stocks such as NRL, PRL, PSO, SHEL, SNGPL, MARI, OGDC, POL, and PPL were trading in the green.
A key development that might be impacting market sentiment was the commencement of crucial talks between Pakistan and the International Monetary Fund (IMF) regarding Pakistan’s request for an additional USD 1.5 billion in financing to combat climate change. These discussions are part of the IMF’s Resilience and Sustainability Facility (RSF) arrangements, aimed at financing long-term climate resilience projects.
On Monday, the PSX had ended the first session of the week on a positive note, with the KSE-100 Index climbing 1,529.17 points or 1.36% to close at 114,330.10. This was attributed to a recovery in the exploration and production (E&P) sector, which helped erase earlier losses.
