The Pakistan Stock Exchange (PSX) saw a significant rebound on Wednesday as the benchmark KSE-100 Index gained over 1,300 points, reaching 118,220. The surge followed the announcement of a staff-level agreement between the International Monetary Fund (IMF) and Pakistani authorities under the Extended Fund Facility (EFF) and a new arrangement under the Resilience and Sustainability Facility (RSF).
Investor confidence was further bolstered by positive developments from the Oil and Gas Development Company (OGDC) and Pakistan Petroleum Limited (PPL) regarding the Reko Diq project in Balochistan. Extensive buying was witnessed in key sectors including automobiles, cement, chemicals, banks, and oil and gas. Major stocks like OGDC, MARI, PPL, HUBCO, PSO, SNGPL, and SSGC traded positively.
This surge marked a strong recovery from the previous session’s losses, reflecting renewed optimism in Pakistan’s economic outlook.
