The Pakistan Stock Exchange (PSX) has soared to unprecedented levels, closing at an all-time high of 81,518 points, a gain of 362 points or 0.44 per cent from its previous close of 81,156 points. This milestone underscores a strong bullish momentum that has characterised the market recently.
Just a week prior, the PSX had made headlines by surpassing the historic 81,000-point threshold, a record driven by significant buying from both local and international investors. This marked an unprecedented surge, showcasing the market’s robust performance.
On Tuesday, the KSE-100 index continued this bullish trend, recording an impressive gain of 1,367 points to close at 81,320.88 points, reflecting a 1.72pc increase from the previous close of 79,944.09 points.
Market experts have attributed this sustained bullish trend to several key factors. Ahsan Mehanti of Arif Habib Corp highlighted the impact of accommodative policy rates set by the State Bank of Pakistan (SBP), which have played a crucial role in stimulating market activity. Additionally, Khurram Shehzad, CEO of Alpha Beta Core, pointed to heightened investor confidence driven by anticipated economic reforms and stability. He noted that these factors have been instrumental in propelling the market to new heights and anticipate further growth.
This recent surge in the PSX comes despite challenges, such as a recent fire incident at the PSX building that temporarily halted trading activities. However, the market’s resilience and the unwavering confidence of investors ensured a quick recovery, mitigating any adverse effects on market sentiment.
The bullish trend is further supported by the government’s privatisation initiatives and a staff-level agreement with the International Monetary Fund (IMF), which have bolstered investor confidence and contributed to the market’s positive outlook.
Overall, the PSX’s record-breaking performance reflects a broader optimism about Pakistan’s economic future, underpinned by strategic reforms and robust investor engagement. As the market continues to climb, stakeholders remain hopeful for sustained growth and stability in the coming months.