KSE-100 gains over 500 points at open ahead of crucial IMF Executive Board meeting

The Pakistan Stock Exchange (PSX) kicked off the week on a positive note, with the benchmark KSE-100 Index gaining over 500 points during the opening minutes of trading as investors anticipate approval from the Executive Board of the International Monetary Fund (IMF) for the disbursement of $1 billion for Pakistan today (Monday). At 9:35am, the benchmark index was hovering at 167,592.87, up 507.29 points, or 0.30%. Buying was observed in key sectors, including cement, commercial banks, fertiliser, oil and gas exploration companies, OMCs and power generation. Index-heavy stocks, including OGDC, POL, PPL, PSO, SNGPL, DGKC, HBL, MCB and MEBL, traded in the green. The Executive Board of the IMF is scheduled to meet today to consider “Pakistan’s Second Review for the 37-month Extended Arrangement under the Extended Fund Facility (EFF)” and the First Review for the “28-month Arrangement under the Resilience and Sustainability Facility (RSF).”