A man uses a mobile phone as he takes a photo of the electronic board displaying share prices during a trading session at the Pakistan Stock Exchange, in Karachi, November 28, 2023. — Reuters
KSE-100 surges over 9,000 points.
Ceasefire, IMF tranche uplift market sentiment.
PSX suspends trading after early spike.
The Pakistan Stock Exchange (PSX) opened to a sharp rally on Monday, with the benchmark KSE-100 index jumping 9.3% to reach 9,900 points at the open.
The positive momentum was driven by two major developments: the ceasefire agreement between Pakistan and India, and the approval of a critical loan tranche by the International Monetary Fund (IMF) over the weekend.
Market participants responded with strong buying activity amid improved geopolitical and economic outlooks. However, following the rapid surge, trading on the exchange was suspended — a circuit breaker to control excessive volatility.
This is a developing story and is being updated with more details.
