The Pakistan Stock Exchange (PSX) opened the business week with a bullish trend, as the benchmark KSE-100 index surged by 634 points in early trading. This rise, marking a 0.88 percent increase, saw the index reach 72,536 at around 9:46 am, following a previous close of 71,902.
Tahir Abbas, Head of Research at Arif Habib Limited, noted that following a three percent correction over the last three days, the market is now experiencing a bullish trend. Investor optimism is fueled by expectations surrounding the new IMF program and the investor-friendly nature of the upcoming budget.
This comes after the benchmark SE-100 index rebounded to 71,000 on the last business day of the previous week, marking a recovery of 1,244 points.
In recent weeks, the PSX has witnessed fluctuations, reaching an all-time high of 73,000 points on April 29, followed by declines to 70,657 on May 2. Notably, on April 26, the KSE-100 index closed at a record high of 72,742 points, and on April 24, it surged to cross the psychological level of 72,000 for the first time in history. Additionally, on April 22, the index gained 523 points, reaching 71,433 points.
