PSX Reaches New Heights at 81,518 Points Amidst Bullish Momentum

The Pakistan Stock Exchange (PSX) surged to unprecedented heights, gaining 362 points to close at an all-time high of 81,518 points. This notable 0.44% increase from the previous close of 81,156 points underscores the bullish momentum that has taken hold in the market.

Just a week earlier, the PSX shattered all previous records by reaching the historic 81,000-point mark, a significant milestone driven by robust buying activity from both local and foreign investors. On Tuesday, the KSE-100 Index maintained its bullish trend, adding 1,367 points to reach 81,320.88, reflecting a 1.72% positive change from the previous closing of 79,944.09 points.

Market experts attribute this bullish trend to a variety of factors, including the privatization efforts and a staff-level agreement with the International Monetary Fund (IMF). Ahsan Mehanti from Arif Habib Corp emphasized the role of accommodating policy rates set by the State Bank of Pakistan (SBP) in stimulating market activity. Meanwhile, Khurram Shehzad, CEO of Alpha Beta Core, highlighted growing investor confidence in anticipated economic reforms and stability, predicting further market growth.

This surge in the PSX comes despite temporary setbacks, such as the recent fire incident at the PSX building, which briefly suspended trading activities but did not dampen overall investor sentiment. The market’s resilience and continued upward trajectory reflect strong confidence in Pakistan’s economic prospects and the effectiveness of ongoing reforms.