Overview

• The benchmark touched an intraday high of 163,903.62 before settling up 0.98% at 163,847.68, with roughly 1.29 billion shares traded worth about Rs65.7 billion.
• Authorities’ Rs1.225 trillion circular‑debt plan buoyed sentiment, including Rs660 billion in loan restructuring, Rs565 billion in fresh financing and Rs660 billion in sovereign guarantees.
• An IMF delegation is in Islamabad for the second review of the Extended Fund Facility and the RSF assessment, with Finance Minister Muhammad Aurangzeb opening formal discussions.
• External indicators offered a modest lift as the State Bank reported reserves at $14.4 billion as of Sept 19 after a $22 million increase, while the rupee inched to 281.37 per dollar.
• Banks, cement, fertiliser and power led gains, with Fauji Fertiliser, Pakistan State Oil and Habib Bank among top contributors, though analysts cautioned that IMF conditions and external financing remain pivotal risks.