The Pakistan Stock Exchange (PSX) rallied on Monday, shrugging off political turmoil from the PTI’s protest march. The KSE-100 Index, after an initial 600-point dip due to profit-taking, surged 1,519.24 points (1.55%) to 99,317.47 during intra-day trade.
Strong economic fundamentals and optimism over improving macro indicators bolstered market sentiment. Declining fixed-income yields, a $349M current account surplus in October, and positive IMF reviews contributed to investor confidence.
The State Bank raised Rs350B via Pakistan Investment Bonds, with yields falling up to 19 basis points, marking their lowest levels since March 2022. Meanwhile, foreign reserves hit a two-year high, and remittances showed significant growth.
Despite political headwinds, including PTI’s demands and disruptions in major cities, the PSX remains on track for historic highs, supported by robust liquidity and strong fundamentals.
