Karachi: The Pakistan Stock Exchange (PSX) experienced a positive shift on Tuesday, as optimism regarding the imminent approval of an International Monetary Fund (IMF) program encouraged bullish market behavior. The benchmark index closed the day up by 515 points, settling at 78,261.

According to JS Global, the upbeat mood in the market was driven by concentrated buying in the Banking, Fertilizer, and Oil and Gas sectors, influenced by the expectations surrounding the IMF’s support and potential restructuring of loans from China. The report also highlighted upcoming economic events such as the monetary policy update that could further affect investor sentiment. Amid these developments, market analysts at JS Global Capital Limited recommend a cautious approach for investors considering new positions, especially at lower levels.

Further details provided include the market capitalization at the PSX, which rose to Rs 10,423.73 billion, reflecting a daily increase of 0.79%. In individual stock performances, notable gainers included National Bank of Pakistan and Bannu Woollen Mills, each surging by 10% in stock price. Conversely, some sectors saw declines, with Lotte Chemical among the notable losers, experiencing a decrease of 2.27% in its stock price.

The broader market activity was also robust, with a total trading volume of 552.56 million shares for the day. The day’s trading highlighted the dynamic nature of the PSX, responsive to both local financial maneuvers and global economic signals.