ISLAMABAD: Buying momentum returned to the Pakistan Stock Exchange (PSX) on Tuesday with the benchmark KSE-100 Index gaining 808.28 points to close at 114,872.18, up from the previous day’s closing of 114,063.90.
A total of 409,933,985 shares were traded during the day as compared to 423,938,288 shares on the last trading day, whereas the price of shares stood at Rs 29.067 billion against Rs 26.458 billion on the previous working day.
As many as 444 companies transacted their shares in the stock market, 211 of them recorded gains and 182 met losses, whereas the share price of 51 companies remained unchanged.
Increased tensions between Pakistan and India following the Pahalgam attack kept the stock market under pressure, with the KSE-100 Index dropping by 1.57% over the past week.
According to the International Monetary Fund (IMF) website, its Executive Board will convene on May 9 to review Pakistan’s staff-level agreement for a new $1.3 billion loan under the climate resilience programme.
The meeting will also include the first review of the country’s ongoing $7 billion bailout package.
This will mark the initial review under the Extended Arrangement of the Extended Fund Facility (EFF), as well as the formal request for funding through the Resilience and Sustainability Facility (RSF), according to the IMF.
Global stock markets remained mostly flat on Tuesday, while the US dollar was on track for its steepest monthly decline in years.
Investors are increasingly cautious, anticipating that the impact of the ongoing trade war will soon be reflected in corporate earnings and economic indicators.
Although US President Donald Trump’s tariffs have shaken confidence in American assets, a series of policy reversals has allowed the S&P 500 to regain much of its early April losses.
However, the dollar has only stabilized, failing to mount a significant recovery.
