KARACHI: The Pakistan Stock Exchange (PSX) opened the week on a strong note, with the benchmark KSE-100 Index gaining more than 1,200 points on Monday as investors positioned themselves ahead of the International Monetary Fund (IMF) Executive Board meeting. The buying momentum lifted the index to an intra-day high of 168,755.18.
Topline Securities said key index movers — Fauji Fertiliser Company (FFC), Systems Limited (SYS), National Bank of Pakistan (NBP), Pakistan Telecommunication Company (PTC) and DG Khan Cement (DGKC) — together added around 846 points to the benchmark. Investors also responded positively to expectations of a new all-time high, with the energy sector projected to lead further gains.
The IMF Executive Board is scheduled to review Pakistan’s Second Review under the Extended Fund Facility (EFF) and the First Review under the Resilience and Sustainability Facility (RSF). Approval would unlock around $1 billion under the EFF and $200 million under the RSF.
On the corporate front, Pakistan Telecommunication Company Limited (PTCL) initiated a five-to-six-month fast-track takeover and merger process after receiving the Pakistan Telecommunication Authority’s approval to acquire Telenor Pakistan.
The market had already ended the previous week on a positive note, with the KSE-100 closing at 167,085.58 points on Friday, reflecting a 0.2% week-on-week increase.
The Pakistani rupee appreciated slightly, closing at 280.41 against the US dollar — a gain of Re0.01 in the inter-bank market.
Trading activity improved, with total volume rising to 783.08 million shares from 686.83 million in the previous session, while the value of shares traded increased to Rs49.95 billion. PTCL led the volumes with 60.89 million shares, followed by Bunnys Ltd with 51.95 million and K-Electric with 46.95 million. Of the 482 companies traded, 244 advanced, 197 declined and 41 remained unchanged.
