Pakistan Stock Exchange (PSX) shattered previous records on Monday, soaring to an all-time high of 81,295 points.
The market experienced an exhilarating gain of 1,351 points or a surge of 1.66% from its previous close of 79,944, marking a monumental intraday performance that increased investors’ confidence.
Last week, the PSX surpassed the 81,000-point mark by gaining 483.98 points, or 0.6%, reaching 81,050.18 points during intraday trading, following a previous close of 80,566.20 points.
Read Payout hopes propel PSX to new high
Analysts attribute this record high to several factors, including investor confidence bolstered by the potential privatization of state-owned enterprises (SOEs), notably highlighted by Prime Minister Shehbaz Sharif’s commitment to initiate the bidding process for Pakistan International Airlines (PIA) in August.
Additionally, the recovery of the Pakistani rupee against the dollar and optimism surrounding upcoming talks with the International Monetary Fund (IMF) have contributed significantly to the bullish sentiment.
