The Pakistan Stock Exchange (PSX) kicked off the week on a high note as bullish momentum returned to the market on Monday.

Investor sentiment strengthened amid expectations of an imminent IMF tranche, solid corporate earnings, and a steady rupee, all of which fuelled risk appetite across sectors.

The benchmark KSE-100 Index surged to an intraday high of 163,769.83 points, marking a gain of 2,138.1 points or 1.32%. It recorded a low of 161,892.59 points, still up by 260.86 points or 0.16%, reflecting strong market confidence.

“Bullish activity was witnessed on strong earnings outlook and imminent receipt of IMF tranche. Rupee stability and surging global crude oil prices played a catalyst role in the PSX rally,” commented Ahsan Mehanti, Managing Director and CEO of Arif Habib Commodities.

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The positive mood was further supported by optimism surrounding the International Monetary Fund’s upcoming board meeting. According to State Bank of Pakistan (SBP) Governor Jameel Ahmad, the IMF board is expected to approve a $1.2 billion disbursement by December under both the Extended Fund Facility and the Resilience and Sustainability Facility. The expected IMF tranche is seen as a key factor in restoring investor confidence and stabilising Pakistan’s external position.

On the macroeconomic front, weekly inflation measured by the Sensitive Price Indicator (SPI) inched up 0.12% for the week ending October 30, reaching 335.53 from 335.14. On a year-on-year basis, the SPI rose 5.05%, according to the Pakistan Bureau of Statistics.

After a brief losing streak earlier in the week, the market regained momentum on Friday, when the KSE-100 Index closed at 161,631.73 points — up by 4,898.86 points or 3.13% from 156,732.87. Analysts predict that the market may now see range-bound trading in the near term as investors keep a close eye on IMF developments, corporate earnings, and progress on the Pakistan-Afghanistan ceasefire.