During intraday trading, the benchmark KSE-100 index increased by 854.19 points from its previous finish of 71,359.40 points to stand at 72,213.59.

The KSE-100 index broke yet another record, according to Muhammad Sohail, CEO of Topline Securities. According to him, following a record current account surplus, consumer inflation is anticipated to decline.

This outstanding accomplishment indicates strong growth potential in the near future and demonstrates investors’ faith in the nation’s economic prospects.

On Monday, the KSE-100 index broke beyond the crucial 71,000 threshold.

The KSE-100 Index dropped 74.06 points (-0.10 percent) to close at 71,359.40 points on Tuesday, marking a turbulent session for the Pakistan Stock Exchange.

Although the market started the day on a strong up note, trading remained erratic as the index fluctuated in both directions.

The last 45 minutes saw significant selling pressure on the index as a result of profit-taking; otherwise, the session had stayed in the range.

It is important to note that Islamabad is presently expecting the transfer of $1.1 billion under the terms of the stand-by arrangement (SBA), which was signed in the final days of the coalition government led by the PDM and was in force from July 1, 2023, to March 31, 2024.

It was previously reported that Pakistan has formally requested the International Monetary Fund (IMF) to seek the next bailout package under the Extended Fund Facility (EFF), which is expected to total between USD 6 and USD 8 billion.

Pakistan has applied twice to the International Monetary Fund (IMF) for support under two different categories: additional climate funding and the extended fund facility (EFF).

Ahsanullah Virk, a member of parliament, filed a petition against the Election Commission of Pakistan’s order to recount the votes in NA-79. The appeal was considered by a single bench of the high court, which is composed of Justice Shahid Karim.

The bench allowed the appeal and overturned the ECP’s directive to recount the votes cast in the constituency.

Previously, the attorney for the electoral body asked for more time to obtain guidelines from the ECP.

“Notification has already been sent out by the electoral commission. The bench stated, “The decision is in front of us; the time could have been granted over an ambiguity on the issue.”

The bench said, “The election commission’s decisions are shocking; the ECP should not have allowed this to happen.”

The petitioner’s attorney had earlier requested to view the returning officer’s report from the bench.

Justice Shahid Karim questioned, “Why is all of this happening in Gujranwala?”

Prime Minister Muhammad Shehbaz Sharif received a visit by a high-level team of the Chinese International Development Cooperation Agency, headed by Luo Zhaohui, the agency’s chairman, in Islamabad. Jiang Zaidong, the Chinese ambassador to Pakistan, was present at the meeting as well.

Together with a Letter of Exchange regarding the establishment of a First Aid Centre in Balochistan and Protocol on Cooperation in Human Resources Development under the Global Development Initiative, the Prime Minister witnessed the signing ceremony of four Memorandums of Understanding focusing on Flood Rehabilitation, Information and Communication Technologies, Juncao Technology, and China-Pakistan Development Cooperation Planning 2024–2028.

As he welcomed the team, Prime Minister Shehbaz praised China’s unwavering support for Pakistan and stated that it is Pakistan’s most reliable ally. The prime minister praised CIDCA in particular for its crucial assistance during the 2022 floods as well as for its relief, rehabilitation, and reconstruction efforts in Pakistan, acknowledging CIDCA’s critical role in supporting Pakistan’s economic development.

He stated that the advancement and prosperity of the peoples of the two nations, as well as Pakistan’s socioeconomic development, have been facilitated by the China-Pakistan Economic Corridor (CPEC). He thought that more industrial, scientific, and environmentally friendly development will come from CPEC Phase-II.

He continued by saying that CPEC-II offers the private sectors of both nations the chance to establish collaborative partnerships.