Pakistan Stock Market: Trading in Pakistan's stock market had to be stopped in 60 minutes

News Topical, Digital Desk : The Pakistan Stock Exchange (PSX) witnessed a huge surge on Tuesday, when the KSE-100 index rose 2.36% to reach the level of 1,20,067.12. This surge continued for the second consecutive day. On Monday, the biggest one-day surge in the history of Pakistan's stock market was witnessed. The surge was due to India-Pakistan ceasefire, IMF funding release and expectations of tax relief in the upcoming budget. Let us tell you that the surge was so high that the market had to be closed in the first 60 minutes on Monday because an upper circuit was applied. This means that there were only buyers in the stock market. That is why trading is stopped after the set limit.

The level of 1.2 lakh was crossed earlier on 4 April. On Monday, the market made a historic jump of 10,123 points (9.45%), which is the biggest single day gain till date.

What is happening- The effect of India-Pakistan ceasefire and the hope of getting money from IMF is visible on the stock market.

Index	Previous Close	Tuesday's high	Edge
KSE-100	1,17,297.73	1,20,067.12	+2,769.39 points ( +2.36% )

A tranche of $1 billion is expected to be received on Tuesday under the IMF's $7 billion Extended Fund Facility (EFF). Such reports have come. An additional $1.4 billion is for climate-focused projects under the Resilience and Sustainability Facility (RSF).

The State Bank of Pakistan has reduced the interest rate by 100 basis points to 11%.

There are reports of tax relief in the upcoming budget. Salaried people may get relief. Finance Minister Mohammad Aurangzeb says that the financial impact of the army's action will be limited, and economic monitoring is not required for it. He said that budget talks with the IMF will run from 14 to 23 May and the budget for 2025–26 will be finalized in 3-4 weeks.

Ceasefire, IMF support, fall in inflation and expectations of tax relief have given a new booster dose to investors in Pakistan's stock market.