The Pakistan Stock Exchange (PSX) reached unprecedented heights on Monday, achieving a record high of 81,295 points.
The market experienced a thrilling gain of 1,351 points, or a 1.66% surge from its previous close of 79,944 points, showcasing a remarkable intraday performance that boosted investor confidence.
Last week, the PSX crossed the 81,000-point milestone by adding 483.98 points, or 0.6%, reaching 81,050.18 points during intraday trading, following a previous close of 80,566.20 points.
Analysts credit this record-breaking performance to various factors, including increased investor confidence driven by the potential privatization of state-owned enterprises (SOEs). Prime Minister Shehbaz Sharif’s announcement to start the bidding process for Pakistan International Airlines (PIA) in August has been particularly influential.
Furthermore, the recovery of the Pakistani rupee against the dollar and positive expectations regarding upcoming discussions with the International Monetary Fund (IMF) have significantly contributed to the bullish market sentiment.
