On Thursday, the Pakistan Stock Exchange (PSX) experienced a remarkable increase, with the main index going up by over 550 points and crossing the 49,000 level. The upward trend continued as the benchmark KSE-100 Index went above 49,000 during the morning trading session.
By noon, the index reached 49,321 points, showing a surge of 557.42 points or 1.14%. Many sectors like cement, pharmaceuticals, chemicals, commercial banks, and oil marketing companies saw significant sales, while automobile assemblers and other companies had a more average performance.
This surge in PSX was caused by the Stand-By Arrangement (SBA) with the International Monetary Fund (IMF) as Pakistan seeks funds from friendly nations. This positive development led to shares trading at a 6-year high.
