PSX gains more than 800 points on expected 'good news' from IMF.

The Pakistan Stock Exchange's (PSX) benchmark KSE-100 index opened in the green on Monday, gaining over 800 points with analysts attributing the rally to expected good news from the International Monetary Fund (IMF).

According to the PSX website, the bourse witnessed an increase of over 450 points by 9:45am. At 10:40am, the index had reached 41,734.31 points, up 683 points, or 1.66 per cent.

The benchmark index closed at 41,878.57, up 826.78 points or 2.01pc from the previous close of 41,051.79.

The rally came after the index crashed on Friday, losing over 2,000 points, or 4.8pc, in the morning session following the government's announcement of a 10pc "super tax" on large-scale industries including cement, steel, sugar, oil and gas, fertilisers, LNG terminals, textile, banking, automobile, chemicals, beverages and cigarettes.

Read: Super tax: What the state giveth, the state taketh away

Salman Naqvi, head of research at Aba Ali Habib Securities, attributed today's rally to a number of factors as well as good news in the offing.

"Pakistan will hopefully receive a letter from the IMF today after which the loan agreement will be finalised," he told Dawn.com.

The Chinese loan roll-over of $2.3 billion, he continued, had also been...