Stocks stage 1,529-point rally on late buying
After beginning on a bearish note, the stock market rebounded during mid-session value-hunting on Monday in a roller-coaster trading session. Ahsan Mehanti from Arif Habib Corporation noted that the market experienced a pre-budget rally as investors considered the finance minister’s hints regarding a construction package in the federal budget for 2025-26. He added that the equity investors were also encouraged by strong economic indicators related to remittances, inflation, and foreign exchange reserves, along with hopes for $1 billion in the International Monetary Fund’s (IMF) climate funding approvals ahead of the review under the Extended Fund Facility. Topline Securities Ltd noted that the stock market commenced the week on a bearish note, with the index plunging to an intraday low of 943 points.