Trading at the Pakistan Stock Exchange (PSX) on Wednesday remained volatile, but the benchmark KSE-100 Index managed to close in the green. The market opened on a positive note, and at one point during the session, the index touched a new all-time high of 166,522.61 points. However, profit-taking later dominated, dragging the index down to an intraday low of 164,155.32 points.
By the close of trading, the KSE-100 Index settled at 165,640.33 points, gaining 146.75 points or 0.09%.
According to official sources, the International Monetary Fund (IMF) on Tuesday urged progress in making the National Finance Commission (NFC) process more effective, a mechanism considered a major hurdle in resource distribution between the federal government and provinces. Technical discussions between the Finance Ministry and the IMF mission continued under the Extended Fund Facility (EFF), covering the second review of the $7 billion program and the first review of the Resilience and Sustainability Facility (RSF).
It is noteworthy that on Tuesday, the KSE-100 Index had surged by 1,645.90 points or 1%, closing at a record 165,493.59 points for the first time in history.
On the global front, Wall Street futures declined, while gold prices hit fresh record highs. Asian stocks also saw fluctuations on Wednesday as the U.S. government shutdown deadline passed, leading to expectations of delays in key labor market data releases and increased uncertainty over future interest rate moves.
