- The shares recovered 2% in the first 30 minutes of negotiation on Friday.
- The index reached an intra -day summit of 107,541.45 and a minimum of 102,420.
- Analsyts say that the drop in cross -border hostilities has stimulated feeling.
Actions organized a powerful return on Friday, fueled by an increase in optimism before the IMF board meeting, investors betting on a smooth green light for the Pakistan loan program.
Investors seemed to regain some confidence after early trade was adopted without new incidents that could stretch the feeling.
The Pakistan Exchange (PSX) KSE-100 index jumped 3.52%, or 3,648 points, to settle at 107,174.63.
The index reached an intraday summit of 107,541.45 and a minimum of 102,420.82, reflecting a strong bullish feeling throughout the session.
The total volume negotiated amounted to 238.4 million shares, while the value of the negotiated shares has taken a turn of 22 billion rupees.
“After falling 6% strongly yesterday due to drone attacks, the shares recovered 2% in the first 30 minutes of negotiation on Friday,” said CEO of Topline Securities, Mohammad Sohail.
“So far, there has been no news from a major escalation helping to restore confidence,” he added.
The brokerage house in a post-commerce ticket said that this recovery was due to optimism at the IMF board of directors planned to consider the loan program, where the market mainly expected gently approval.
“The overall decrease in cross -border hostilities has also brought back to the feeling of investors,” added the report.
The objective of investors is firmly set on the meeting of the IMF Executive Board which takes place today, where a disbursement of $ 1.3 billion under prolonged funds (EFF) of Pakistan is underway for approval.
The Council will also examine Islamabad’s request to modify the criteria for performance and access to funds as part of the resilience and sustainability installation (RSF). The IMF and the Government of Pakistan concluded an agreement at the staff level in March during the first examination of the $ 7 billion program.
If it is approved, the next slice would bring total disbursements to around $ 2 billion.
Friday movements occur one day after the PSX suffered its worst decrease by one day in one day, while the KSE-100 index plunged 6,482.21 points, or 5.89%, to end at 103,526.81 on Thursday.
The market circuit breaker was activated after the KSE-30 index fell by more than 5% in five consecutive minutes, which resulted in one hour stop.
During Thursday’s session, the KSE-100 had reached a summit of 111,881.03 and fell as low as 101,598.91 points.