KSE-100 Index Rises 917 Points Amid IMF Approval Anticipation

The KSE-100 index gained 917.39 points, reaching 169,329.62, a positive technical sign as it aims to reclaim the 170,000 psychological barrier. This rebound follows a period of pressure due to a 1% interest rate hike that previously caused a drop of 1,100 points. The IMF's expected approval on May 8 is crucial, as it would unlock essential external inflows. Meanwhile, the retail sector faces challenges due to government-imposed early closures, leading to a 25-30% drop in formal retail sales across 35,000 outlets, resulting in a weekly loss of Rs100 billion in economic activity.