PSX Rally Extends on IMF Deal, Surprise Current Account Surplus
“KSE-100 notched another record intraday high as momentum persisted.”
Key points
- KSE-100 notched another record intraday high as momentum persisted.
- Optimism stems from the IMF staff-level deal and upbeat earnings expectations.
- September posted a $110m current account surplus, surprising forecasters.
- Analysts caution the Q1 deficit still totals $594m, limiting near-term relief.
The Pakistan Stock Exchange extended gains on Tuesday as optimism over Pakistan’s staff-level agreement with the International Monetary Fund lifted sentiment alongside expectations for robust corporate earnings and potential Saudi investment flows. During intraday trade, the KSE-100 Index climbed to an all-time intraday high of 168,197.47—up 2,171 points, or 1.31%—after opening at 166,242.90. Even at its session low of 166,923.59, the benchmark remained comfortably in positive territory.
Market participants credited the rally to improving macroeconomic signals. Analysts highlighted the State Bank’s data showing a surprise current account surplus of $110 million in September, reversing a deficit from the previous month and confounding forecasts that had anticipated a sizeable shortfall. Research heads said the beat likely reflects timing and accounting adjustments between customs data and the balance-of-payments framework.
Despite the upbeat print, first-quarter FY26 still shows a cumulative current account deficit of $594 million, tempering expectations for a swift external turnaround. Traders nonetheless said the IMF agreement and privatisation signals—such as movement on the First Women Bank transaction—are underpinning risk appetite as results season unfolds.
Corrections & clarifications
Spot an inaccuracy or need more detail? Email connect@newsnexus24.com. Significant updates are timestamped above.
