Stocks rise due to increased purchasing in essential areas.

The Pakistan Stock Exchange (PSX) had a bullish trend during the initial hours of trade on Thursday.

The KSE-100 index remained at 112,753 points following an increase of approximately 500 points.

Principal sectors encompass automobile manufacturers, cement production, commercial banking, fertiliser, oil and gas exploration firms, oil marketing organisations, and refineries. Index-heavy stocks including PRL, HUBCO, PSO, SNGPL, MARI, OGDC, HBL, NBP and UBL traded in the green as buying was witnessed in these sectors.

Currently, investors are meticulously monitoring the negotiations between Pakistani officials and the International Monetary Fund (IMF) about the initial assessment of its $7 billion Extended Fund Facility (EFF) program.

Should the evaluation receive approval from the lender’s board, it may facilitate the release of an additional tranche of financing for financially constrained Pakistan prior to its annual budget.

The KSE-100 index closed at 112,253 points, having declined by 490 points yesterday (Wednesday).