The Pakistan Stock Exchange (PSX) set a new record on Monday, climbing to an all-time high of 81,295 points. This marked a remarkable gain of 1,351 points, or 1.66%, from the previous close of 79,944, significantly boosting investor confidence.
Last week, the PSX had already crossed the 81,000-point threshold, gaining 483.98 points, or 0.6%, to reach 81,050.18 points during intraday trading after closing at 80,566.20 points.
Read more: PSX Reaches Record Milestone, Surpassing 78,000 For The First Time Ever
Analysts attribute this record achievement to various factors, including increased investor confidence due to the potential privatization of state-owned enterprises (SOEs), particularly with Prime Minister Shehbaz Sharif’s announcement to start the bidding process for Pakistan International Airlines (PIA) in August.
Additionally, the recovery of the Pakistani rupee against the dollar and optimism about upcoming negotiations with the International Monetary Fund (IMF) have also played significant roles in the positive market sentiment.
