Eidul Fitr 2025: PSX goes for week-long holidays on festive note
Business
On Thursday, bullish momentum persisted in PSX as benchmark KSE-100 Index closed at 117,806
PSX was back to its business best as it surpassed 119,000 mark on March 21, 2025
Pakistan's agreement with IMF on EFF, climate debt adds to investor confidence
Earlier reports about upgrade of Pakistani banks by Moody's Ratings helped stock trade
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) will resume trading on next Thursday after almost week-long Eidul Fitr holidays.
Friday is usually the last working day of the week in the PSX but the stocks trade hub remained closed this time round on account of Jumatul Wida.
On Thursday, bullish momentum persisted in the PSX as the benchmark KSE-100 Index hovered at 118,147 after gaining more than 375 points during the early hours.
The lowest figure of the day was 117,551 after which the market bounced back and eventually closed at 117,806 points.
Across-the-board buying was observed in key sectors, including commercial banks, fertiliser, power generation, and oil and gas exploration companies.
ALL-TIME HIGH
On March 21, the PSX was back to its business best as it surpassed 119,000 mark.
The KSE-100 Index at one point rose to 119,405 and the lowest was 118,638. Eventually, the day's trading activity closed at 118,442 points.
Earlier, the PSX maintained its bullish trend as it reached the all-time high, surpassing 119,000.
Also read: PSX at its business best with 119,000 on board
The KSE-100 index gained 1,330.22 points and climbed to the new peak of 119,304.24 during intraday trading, witnessing a positive change of 1.13 percent. Later in the day, the key index closed at 118,769.
FESTIVE ECONOMIC OUTLOOK
As the market has seen surge in the last few days, analysts say Pakistan’s Staff-Level Agreement with the International Monetary Fund (IMF) on EFF and successful negotiation on the new arrangement under the Resilience and Sustainability Facility (RSF), commonly known as climate debt, have added to investor confidence.
IMF Director of Communications Julie Kozack on Friday confirmed that Pakistan would receive $1.3 billion under climate financing.
The talks on climate financing were successful, she said at a presser, adding that Pakistan would get $1.3 billion in 28 months.
She said a 37-month EFF programme for Pakistan was approved in September last year and the Staff-Level Agreement for the new loan tranche was reached on March 25. Pakistan would receive $1 billion tranche under the EFF.
Besides, a recent research conducted by the Oil and Gas Development Company (OGDC) and the Pakistan Petroleum Limited (PPL) over the feasibility of the Reko Diq project in Balochistan also sent positive signals to the investors.
Earlier, reports about upgrade of Pakistani banks by Moody’s Ratings and potential resolution of circular debt issue also contributed to investor confidence.
The Pakistan Stock Exchange (PSX) is back to its best as it surpassed 119,000 mark on Friday – the last day of business week.
