Business
IMF Loan Disbursement Sparks Fresh Buying at Pakistan Stock Exchange – SUCH TV
The Pakistan Stock Exchange (PSX) witnessed bullish trading on Tuesday as investors welcomed the International Monetary Fund’s (IMF) approval of a $1.2 billion disbursement for Pakistan under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF).
By noon, the benchmark KSE-100 index was trading at 169,509.26 points, up 1,206.02 points, or 0.71%.
Of the 560 companies traded, 293 saw their share prices rise, 104 declined, and 104 remained unchanged.
Analysts said the positive momentum was driven by the IMF board clearance, unlocking $1 billion under the EFF and $200 million through the RSF, bringing total disbursements under both programs to approximately $3.3 billion.
Buying interest was particularly strong in sectors such as cement, commercial banks, fertilizers, oil and gas exploration, oil marketing companies, and power generation and refineries. Major index-heavy stocks, including HUBCO, MARI, OGDC, POL, PPL, MCB, MEBL, NBP, and UBL, traded in the green.
Earlier in the day, the PSX closed on a positive note, with the KSE-100 index gaining 1,217 points to finish at 168,303, reaching a key psychological level. The index recorded an intraday high of 168,755 points and a low of 167,386 points during the session.
The IMF tranche approval appears to have renewed investor confidence, signaling stability in Pakistan’s economic outlook amid ongoing structural reforms.
Investor participation stayed robust, with total trading volume reaching 769.7 million shares. The value of shares traded during the session exceeded Rs49 billion, reflecting renewed confidence among investors.
Market analysts noted a positive momentum in selective buying of index-heavy stocks, accompanied by improved investor sentiment, which is supported by expectations of economic stability and positive developments on the macroeconomic front.
The Reserve Bank of India (RBI) on Monday decided against activating the countercyclical capital buffer (CCyB), indicating that current financial and credit conditions do not warrant an additional capital requirement for banks, PTI reported.The central bank said the decision followed a review and empirical assessment of indicators used under the CCyB framework.“Based on review and empirical analysis of CCyB indicators, it has been decided that it is not necessary to activate CCyB at this point in time,” RBI said in a statement.Under the RBI (Commercial Banks – Prudential Norms on Capital Adequacy) Directions, 2025, the CCyB framework is activated when financial conditions indicate rising systemic risks linked to excessive credit growth.The framework primarily relies on the credit-to-GDP gap as a key indicator, along with supplementary metrics.According to the RBI, the CCyB mechanism is intended to serve two broad objectives.Firstly, it requires a bank to build up a buffer of capital in good times, which may be used to maintain the flow of credit to the real sector in difficult times.Secondly, it achieves the broader macro-prudential goal of restricting the banking sector from indiscriminate lending in the periods of excess credit growth that have often been associated with the building up of system-wide risk.The framework was introduced globally after the 2008 financial crisis as part of measures proposed by the Group of Central Bank Governors and Heads of Supervision (GHOS) under the Basel framework to strengthen financial system resilience.
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“Today’s policymaking is constrained by a more volatile external environment with more frequent and overlapping shocks, a rising public interest bill, in part reflecting market concerns with countries’ elevated debt, and the long-standing challenge of weak productivity growth,” he said.
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