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Pakistan Stock Exchange (PSX) Closes Higher Amid Positive Sentiment Following IMF Staff-Level Agreement

Date: March 26, 2025

Market Summary:

The Pakistan Stock Exchange (PSX) concluded today’s trading session on a positive note, buoyed by investor optimism following the announcement of a staff-level agreement between Pakistan and the International Monetary Fund (IMF). The benchmark KSE-100 Index closed at 117,772.31 points, marking a gain of 1,139.15 points or 0.98% from the previous close. ​Dawn+3Business Recorder+3Mettis Global+3

Key Indices Performance:

Market Activity:

Top Gainers:

  1. United Bank Limited (UBL): Experienced a significant uptick of 5.79%, reflecting strong performance in the banking sector. ​Mettis Global
  2. Pakistan Tobacco Company Limited (PAKT): Gained 4.68%, contributing positively to the market index. ​Mettis Global+1PSX Data Portal+1
  3. Pakistan Petroleum Limited (PPL): Rose by 4.22%, indicating renewed investor interest in the oil and gas sector. ​

Top Losers:

  1. TRG Pakistan Limited (TRG): Faced a decline, closing lower than the previous session.​Pakistan Stock Exchange+1PSX Data Portal+1
  2. Engro Corporation Limited (ENGRO): Experienced a slight dip, reflecting mixed sentiments in the conglomerate sector.​
  3. Lucky Cement Limited (LUCK): Saw a marginal decrease, indicating some profit-taking in the cement sector.​

Market Insights & Key Developments:

IMF Staff-Level Agreement:

The recent staff-level agreement between Pakistan and the IMF has been a pivotal factor in boosting market confidence. This agreement is expected to facilitate a disbursement of approximately $1.3 billion, providing much-needed support to Pakistan’s economic reforms and stabilization efforts. ​Business Recorder

Sectoral Performance:

  • Banking Sector: Led by United Bank Limited (UBL), the sector showed robust performance, reflecting investor optimism about financial stability and potential monetary policy support. ​
  • Oil & Gas Sector: Companies like Pakistan Petroleum Limited (PPL) and Oil & Gas Development Company (OGDC) experienced notable gains, buoyed by positive developments in energy projects and the IMF agreement. ​
  • Cement Sector: Despite the overall market surge, some cement companies faced minor setbacks, possibly due to regional policy changes affecting production costs.​

Market Outlook:

Bullish Sentiment:

The PSX is expected to maintain its upward trajectory in the near term, driven by positive macroeconomic indicators and the anticipated inflow of IMF funds.​

Sectors to Watch:

Investors should closely monitor the banking, oil & gas, and cement sectors, as they are likely to benefit from ongoing economic reforms and infrastructure projects.​

Key Levels:

  • Resistance: The KSE-100 Index may face resistance around the 118,500 level.​
  • Support: Strong support is anticipated near the 117,000 mark.​

Stay Informed:

For real-time updates and detailed analyses, visit DailyForex.pk.​
Hamza Shah

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Published by
Hamza Shah
3 months ago

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