The Pakistan Stock Exchange (PSX) continued to perform well on Monday, with the benchmark index, known as the KSE-100, gaining 430.52 points or 0.81%. This positive momentum is largely due to the expectation of a successful review by the International Monetary Fund (IMF). Last week, the KSE-100 index surpassed its previous record high of 52,876 points achieved in May 2017. The index has gained over 30% this year, thanks to the approval of a $3 billion loan program by the IMF in July. A delegation from the IMF recently arrived in Islamabad to conduct the loan review talks, which will focus on future reforms under a nine-month bailout package. Market experts believe that the falling interest rate in secondary markets and company buybacks are contributing to the current run in the equity market. Despite reaching an all-time high in terms of index points, market participants recognize that the market is still undervalued. This is an ongoing story, and more updates will be provided.
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