The Pakistan Stock Exchange (PSX) saw a continued bullish trend on Monday, with the benchmark KSE-100 index reaching a record high of over 56,000 points during intraday trading.
This surge was fueled by a gain of 618 points, spurred by factors such as clarity on the election date and expectations of a positive review from the International Monetary Fund (IMF).
At 10 a.m on Monday, the PSX 100 index was trading at 56,010, marking a strong start to the business week.
On the previous Friday, the KSE-100 index had surpassed the 55,000 points milestone.
Raza Jafri, Head of Equity at Intermarket Securities, attributed the rally to robust domestic institutional buying and declining Pakistan Investment Bonds (PIBs) yields.
It is worth noting that the last time the index traded above 52,000 points was in 2017 during PML-N’s tenure.