After the IMF accord, PSX records significant gains.

The Pakistan Stock Exchange (PSX) gained momentum as the benchmark KSE-100 Index gained more than 1,300 points during the opening hours of trade on Wednesday, just hours after the International Monetary Fund (IMF) and Pakistani authorities reached a staff-level agreement on the first review under Pakistan’s Extended Fund Facility (EFF) and on a new arrangement under the Resilience and Sustainability Facility (RSF).

After the staff-level deal with the global lender, the bulls quickly recovered, and the KSE-100 Index was trading at 118,220 points.

Market analysts claim that a recent study on the viability of the Reko Diq project in Balochistan by the Oil and Gas Development Company (OGDC) and Pakistan Petroleum Limited (PPL) gave investors encouraging indications.

Automobile assemblers, cement, chemical, commercial banks, oil and gas exploration firms, OMCs, power generating, and refineries were among the major industries that saw significant purchasing.

Aside from that, following positive macroeconomic news, index-heavy equities such as OGDC, MARI, PPL, HUBCO, PSO, SNGPL, and SSGC also saw positive trading.

After moving south, PSX gains ground.

Following a weak day, the Pakistan Stock Exchange (PSX) saw some improvement during Tuesday’s trade.

The KSE-100 Index lost 562 points at the start of trading, falling to 115,877. However, it quickly bounced back, rising 400 points to 116,904.

After dropping 2,002 points, the PSX ended Monday’s trading session at 116,439 points. Selling pressure caused it to plummet.