In the opening hours of trading, the Pakistan Stock Exchange (PSX) experienced a notable surge as the benchmark KSE-100 Index moved up by 285 points, reaching a new milestone with the 100-index hovering at 56,850 points.
On Monday, the stock market achieved a historic moment by concluding at 56,524 points, surpassing the 56,000-point threshold for the first time in history. This remarkable performance follows a consistent pattern of breaking records, initiated when the market crossed the 53,000 mark for the first time in six years earlier in November.
The historic surge in the Stock Exchange is attributed to the reduction in Pakistan Investment Bonds yields, resulting in increased buying at the domestic level. This positive momentum has extended its impact to the money market. Meanwhile, an ongoing IMF review stands as a crucial checkpoint, expected to further shape the market’s trajectory.
Considered a positive indicator of Pakistan’s economic strength and stability, this development is anticipated to be an attractive prospect for international investors.
