PSX continues rally as KSE-100 gains 663 points amid IMF optimism

(Web Desk): The buying rally continued at the Pakistan Stock Exchange (PSX) on Monday, fueled by optimism over the IMF deal. The benchmark KSE-100 Index gained 663 points, closing at 116,199.59, marking an increase of 0.57%. The index reached an intra-day high of 116,626.82 during the session.

Positive momentum was observed across key sectors, with notable buying activity in automobile assemblers, commercial banks, oil and gas marketing companies (OMCs), and other index-heavy stocks like MARI, OGDC, PPL, PSO, SNGPL, MCB, MEBL, and NBP.

The PSX's positive performance last week was driven by expectations surrounding the settlement of the energy circular debt and developments related to the International Monetary Fund’s (IMF) Extended Fund Facility (EFF) program. For the week, the KSE-100 Index rose by 1,137 points, or 1%, closing at 115,536 points, compared to 114,399 points the previous week.