TFD Report
KARACHI: The Pakistan Stock Exchange (PSX) surged to new heights, gaining 684 points to close at an all-time high of 81,839 points. This remarkable 0.84% increase from the previous close of 81,156 points showcases a bullish momentum in the market.
A week earlier, the PSX shattered all previous records to reach the historic 81,000-point mark during intraday trade, an unprecedented milestone driven by robust buying from local and foreign investors.
On Tuesday, KSE-100 maintained a bullish trend and gained 1,367 points to hover at 81,320.88 points with 1.72% positive change as compared to the previous closing of 79,944.09 points.
Experts have attributed the bullish trend to various factors including the privatization and staff-level agreement with the International Monetary Fund (IMF).
Ahsan Mehanti from Arif Habib Corp emphasized the role of accommodating State Bank of Pakistan (SBP) policy rates in stimulating market activity. Meanwhile, Khurram Shehzad, CEO of Alpha Beta Core, highlighted investor confidence in anticipated economic reforms and stability, anticipating further market growth.
This surge comes amidst ongoing market resilience despite temporary interruptions, such as the recent fire incident at the PSX building, which briefly suspended trading activities but did not dampen overall investor sentiment.
