PSX maintains bullish trend as index surpasses 120k points
Business
KSE-100 index closed at 119,649 after losing 312 points on last trading day of week
KARACHI (Dunya News) – Stocks continued to leapfrog on week's last trading day as the Pakistan Stock Exchange (PSX) witnessed sustained bullish momentum.
The benchmark KSE-100 index was hovering at 120,380 level after gaining more than 300 points.
Later, it came down to 119,649 after losing 312 points against Thursday's 119,961.
Across-the-board buying was observed in key sectors including cement, commercial banks, power generation and refinery.
It is worth mentioning that at the close of the previous trading day, the index increased by 1,425 points, closing at the level of 119,961 points.
On the other hand, in the interbank market, the US dollar further depreciated by 11 paisas, dropping from Rs281.61 to Rs281.50.
SBP RECEIVES IMF LOAN TRANCHE
On Wednesday, the State Bank of Pakistan (SBP) received the second tranche of $1.023 million from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF).
The amount will be reflected in SBP’s foreign exchange reserves for the week ending on May 16, 2025, the bank said in a statement.
A week earlier, the IMF’s Executive Board formally approved a $1 billion disbursement for Pakistan under the EFF, marking a significant step in the country’s ongoing economic stabilisation efforts.
The tranche was greenlit following Pakistan’s successful completion of key performance benchmarks. The EFF programme, which is designed to support countries facing balance-of-payment difficulties, spans a 37-month period.
