PSX hits record high near 160,000-milestone

The Pakistan Stock Exchange (PSX) ended on a high note on Thursday, with the benchmark KSE-100 index nearing the 160,000-point mark, amid positive market sentiment as the International Monetary Fund (IMF) mission began its review of Pakistan’s economic performance under the ongoing $7 billion Extended Fund Facility (EFF). Investors were buoyed by the government’s recent agreement with 18 banks, securing a Rs1.2 trillion loan to address the power sector’s circular debt. However, electricity consumers will shoulder the burden of the loan through a Rs3.23 per unit surcharge over the next six years. Additionally, the government has allowed the commercial import of used vehicles in line with IMF conditions. The KSE-100 index closed at 159,208, recording a gain of 1,043 points, or 0.66pc. The index briefly hit an intraday high of 159,538, reflecting strong bullish momentum. Leading contributors to the rise included Hub Power, Engro Holdings, Mari Energies, Engro Fertiliser, and Habib Bank, which collectively added 1,145 points to the index.