In a historic surge, the Pakistan Stock Exchange (PSX) witnessed a remarkable climb on Tuesday, with the KSE-100 Index breaching the unprecedented 60,000-point milestone for the first time in its history.
The market showcased a strong bullish trend, propelling the index upwards by 405 points. Early trading hours saw the benchmark KSE-100 index reach 60,460 points, marking an impressive addition of over 600 points from its Monday closure at 59,811 points.
Over the last month alone, the KSE-100 index has soared by an astonishing 8,000 points, indicating a robust upward trajectory in the stock market.
Read more:Bullish trend in Pakistan Stock Exchange
Market analysts attribute today’s positive rally to the successful initial review conducted with the International Monetary Fund (IMF). This positive development has instilled confidence among traders, contributing significantly to the market’s bullish sentiment.
Furthermore, experts cite anticipation of a potential rate cut as another factor driving the market surge. With expectations of a slowdown in inflation over the coming months, investors are optimistic about a prospective reduction in interest rates. Additionally, increased clarity on the upcoming elections has also bolstered market confidence, further fueling the positive trend.
Amidst this bullish momentum, the caretaker government has implemented decisive measures aimed at supporting the ongoing rally. However, despite the market’s upturn, the Pakistani currency continues to face pressure owing to import payments.
The PSX’s monumental breach of the 60,000-point mark marks a significant milestone, reflecting market resilience and investor confidence amidst evolving economic dynamics and geopolitical factors.
