On Monday, the Pakistan Stock Exchange (PSX) witnessed a robust bullish trend as shares surged by over 700 points, signalling investor confidence in the market.
The benchmark KSE-100 index displayed impressive gains throughout the trading session, climbing by 788.56 points or 1.08 per cent, reaching 73,874.06 points at 1:55 PM, compared to the previous close of 73,085.50 points. Eventually, the index closed at 73,799.1, marking a significant increase of 713.61 points from the previous session’s close.
During intraday trading, the benchmark index even surpassed the 74,000 mark, briefly touching 74,114.22 points, before retracting below this threshold within an hour.
This bullish momentum reflects a positive sentiment among investors, driven by various factors including strong market fundamentals and favourable economic indicators. Additionally, anticipation ahead of the upcoming meeting between Pakistani authorities and an IMF mission regarding the “next phase of engagement” has contributed to market optimism.