KARACHI: Expectations of a smooth review by the International Monetary Fund (IMF) and Moody`s upgrade of Pakistan`s banking sector outlook have given the stock market a much-needed boost to end the three-session losing streatk. This positive momentum drove bears out of the market, pushing the benchmark KSE 100 index above the 115,000 barrier.

Ahsan Mehanti of Arif Habib Corporation said the market recovered after the global rating agency upgraded the outlook from stable to positive owing to improving financial performance and macroeconomic conditions.

He added that speculation about the resolution of power sector circular debt ahead of the release of the IMF tranche next month and surging global crude oil prices contributed to bullish perfor-mance at the PSX.

Topline Securities Ltd said the index hit an impressive intraday high of 1,162 points before closing at 115,094-marking a notable gain of 1,009points or 0.89 per cent day-on-day.

The positive momentum was primarily driven by growing investor confidence that the ongoing review with the IMF willconclude smoothly. This sentiment encouraged aggressive buying across all key sectors.

The rally was predominantly led by Fauji Fertilsier, PSO, LuckyCement, Engro Holdings, and Mari Energies, collectively contributing 506 points to the index.

The market activity improved as the trading volume rose 27.75pc to382.79.63 million shares while the traded value increased 25.39pc to Rs25.40bn day-on-day.

Stocks contributing significantly to the traded volume included The Bank of Punjab (48.80m shares), Barkat Frisian Agro (24.68m shares), Fauji Cement (19.66m shares) and Maple Leaf Cement (16.10m shares).

The shares registering the most significant increases in their share prices in absolute terms were Hoechst Pakistan (Rs85.30), PIA Holding Company [B] (Rs64.22), Lucky Cement (Rs40.43), Pakistan State Oil (Rs17.46) and Ghandhara Industries (Rs16.40).

The companies registering significant decreases in their share prices in absolute terms were Unilever Foods (Rs122.40), Service Industries (Rs36.15), Haleon Pakistan (Rs26.15), Ismail Industries (Rs19.99) and Indus Motor Company (Rs14.80).