Bulls dominated the trade floor on Wednesday as shares at the Pakistan Stock Exchange (PSX) surged more than 1,100 points after a successful review of the International Monetary Fund (IMF) bailout programme.

The benchmark KSE-100 index climbed 1,390.46 points, or 1.19 per cent to stand at 118,023.62 from the previous close of 116,633.16 at 9:22am.

Finally, the index closed at 117,772.31, up by 1,139.15 or 0.98pc, from the last close.

Topline Securities, a brokerage firm in Karachi, noted market gains were primarily driven by UBL, OGDC, PPL, MEBL, and MARI, which contributed 883 points to the index.

“A total of 355m shares were traded, with a turnover of Rs 37bn,” it said, adding that PAEL led the volume chart, with 29m shares exchanged.

Sana Tawfik, head of research at Arif Habib Limited, stated that the “major trigger” behind the bull run was the federal government reaching a deal with the IMF for a new $1.3 billion arrangement, along with the first review of the ongoing 37-month bailout programme.

Additionally, she noted that the study conducted by Oil........

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