January 12, 2024 (MLN): The Pakistan stock market reacted positively to the International Monetary Fund (IMF)'s approval of the second loan tranche worth $700 million, with its key benchmark KSE-100 index gaining 573.64 points, or 0.89%, to currently trade at 65,191 [09:49am PST].
The index has traded volume of 86.822 million shares.
While allowing for an immediate disbursement of around $700m to Pakistan, the IMF on Thursday stated that the economic activity has stabilized although the outlook remains challenging and dependent on the implementation of sound policies.
KSE-100 index is being supported by Oil & Gas Exploration Companies with 148.75, Commercial Banks with 113.56, Cement with 53.68, Fertilizer with 53.41, and Power Generation & Distribution with 33.77 points.
Companies adding points to the index are PPL with 75.19, OGDC with 37.68, MARI with 27.94, MEBL with 26.02, and ENGRO with 25.25 points.
In the broader market, the All-Share index is at 44,061.37 with a net gain of 350.70 points.
Company
Volume
Top Ten by Volume
KEL
18,007,412
PIBTL
15,218,500
PIAA
7,451,000
CNERGY
6,852,309
WTL
4,681,856
HASCOL
4,483,000
TREET
4,246,188
PPL
4,184,361
PRL
3,407,078
OGDC
3,000,497
To note, the KSE-100 has gained 23,739 points or 57.27% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 2,740 points, equivalent to 4.39%.
Pakistan’s 9-month SBA was approved by the Executive Board on July 12, 2023, in the amount of SDR 2.250 billion (about $3bn at the time of approval).
The loan program aims to provide a policy anchor for addressing domestic and external balances and a framework for financial support from multilateral and bilateral partners.
