The record-breaking buying rally continued at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index crossing the 165,000 level for the first time during intraday trading on Tuesday.
At 11:10am, the benchmark index was hovering at 165,100.04, an increase of 1,252.36 points or 0.76%.
Buying momentum was observed in key sectors including automobile assemblers, commercial banks, fertiliser, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks, including ARL, HUBCO, OGDC, POL, PPL, SNGP, SSGC, MCB, MEBL and UBL, traded in the green.
Pakistan and the International Monetary Fund (IMF) on Monday began talks for the second review of the $7 billion Extended Fund Facility (EFF) programme and the first review of the Resilience and Sustainability Facility (RSF), with discussions centering on fiscal performance and governance reforms.
Official sources said talks focused on Pakistan’s recent economic performance, revenue collection, spending discipline, and progress on structural reforms. The government also updated the IMF on the National Fiscal Pact, capital market reforms and transparency in development spending.
On Monday, the PSX began the new week on a bullish note as across-the-board buying lifted key indices to fresh record levels. The benchmark KSE-100 Index gained 1,590.68 points, or 0.98%, closing at 163,847.69.
Internationally, shares in Asia edged higher and gold continued its record climb on Tuesday as markets weighed prospects for a US government shutdown that would delay closely watched jobs figures.
US Vice President JD Vance said the government appeared “headed to a shutdown” after little progress in budget talks between President Donald Trump and Democratic opponents.
A government closure would halt the publishing of critical employment numbers later this week, putting the spotlight on the Labor Department’s JOLTS report on August job openings due later on Tuesday.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.5% in early trading, poised for a 5.6% gain this month that would be the best in a year. Japan’s Nikkei stock index slid 0.3%, down for a third day.
This is an intra-day update
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