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% or 9,900 points at the open.
The positive momentum was driven by two major developments: the ceasefire agreement between Pakistan and India, and the International Monetary Fund’s (IMF) approval of a critical loan tranche 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.
