According to Spectrum Research, KSE100 gained 2,023 pts, closing at 59,086 fueled by positive economic developments, including the release of nest IMF’s tranche, government transfer of SOE assets to PSWF, government application submission for BRICS membership with Russian help, FDI up by 7% in first four month of FY24, CNDS achieving PKR715bn fresh bond target in 5MFY23.

Moreover, the Minister for IT and Telecommunication unveiled an Export Strategy to boost Pakistan’s IT exports to USD10bn in the next three years; the total inflows of RDA have surpassed the USD mark as of Nov’23 and Oct’23, and current account recorded a deficit of USD74mn as compared to USD849mn in Oct’22, signifying decline of 91%YoY backed market sentiments.

The government established two advisory councils to increase export volumes, government assurance to IMF to increase petroleum levy collection to PKR920bn, PRL inking agreement with Honeywell UOP, Axen to double refining capacity, cotton arrival in Pakistan have reached 7.37mn bales as of 15 Nov and ECC approval for release of PKR20bn to green corporate initiative during the current fiscal year supported the market.