Karachi
\nPakistan\u2019s stock market surged with renewed vigour as the KSE-100 Index jumped 2,185 points to close at 165,373, marking a robust 1.34% gain.
\nThe benchmark reclaimed the psychologically important 165,000 level on a closing basis for the first time in 25 days\u2014since October 22\u2014easing rollover week concerns and signalling a strong bullish comeback.
\n\u201cThe session opened on a strong footing and maintained its positive trajectory throughout the day,\u201d said Ali Najib, Deputy Head of Trading at Arif Habib Ltd.
\n\u201cThis rally was largely driven by optimism surrounding the IMF Board meeting scheduled for December 8, following Pakistan\u2019s Staff-Level Agreement (SLA) with the Fund for the second review of the $7 billion EFF programme and the first review of the $1.4 billion RSF facility.\u201d
\nMarket sentiment was further buoyed by reports that the Reko Diq project is expected to achieve financial close within the next two weeks, securing $3.5 billion in funding for the multibillion-dollar copper and gold mining venture.
\nThis kept E&P stocks in the spotlight, with PPL and OGDC jointly contributing 303 points. FATIMA and LUCK also attracted renewed buying interest due to their mining-linked exposure, together adding 331 points to the day\u2019s bull run.
\nMarket activity remained moderate, with 495.7 million shares traded and total turnover amounting to Rs30.5 billion. DSL led the volume chart with 48.4 million shares.
\nAs anticipated, the PSX crossed the 165,000 mark today.
\nLooking ahead, the KSE-100 Index is likely to extend its bullish trend on Friday, supported by end-of-month window dressing. The index may even push above its current 160,000\u2013170,000 consolidation zone.<\/p>\n","protected":false},"excerpt":{"rendered":"
Karachi Pakistan\u2019s stock market surged with renewed vigour as the KSE-100 Index jumped 2,185 points to close at 165,373, marking a robust 1.34% gain. The benchmark reclaimed the psychologically important 165,000 level on a closing basis for the first time in 25 days\u2014since October 22\u2014easing rollover week concerns and signalling a strong bullish comeback. \u201cThe […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-517156","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n