Following three consecutive sessions of subdued performance, optimism returned to the Pakistan Stock Exchange (PSX) as bulls surged back onto the trade floor. In intraday trading, shares witnessed a remarkable gain of over 800 points.
The benchmark KSE-100 index demonstrated significant resilience, climbing by 831.65 points, equivalent to a 1.18 per cent increase, reaching 71,489.29 points by 11:35 AM. This notable surge marked a stark contrast from the previous close of 70,657.64 points.
Amidst market dynamics, a spokesperson from the US Department reiterated the United States’ unwavering support for Pakistan’s economic endeavours. In response to inquiries regarding US assistance to Islamabad and its engagement with the International Monetary Fund (IMF), the spokesperson reaffirmed US commitment.
The official emphasised the United States’ stance, stating, “When it comes to efforts to stabilise its economy, we support those efforts, including reaching an agreement with the IMF.”
Moreover, the spokesperson dismissed assertions suggesting the possibility of Pakistan diverting funds towards its missile programme, underscoring the focus on economic stability and growth initiatives.
