The Pakistan Stock Exchange (PSX) saw another day of positive performance as the benchmark SE-100 index surged by 427 points during early trading on Tuesday, reaching 73,191 points by 10:40 am.
This follows yesterday’s increase of 862 points, closing at 72,764 points. A total of 364 companies’ shares were traded, with 257 companies experiencing an increase in share prices. Adnan Sheikh from Pak-Kuwait Investment Company attributed the market’s momentum to the recent Saudi delegation visit and statements from the IMF mission.
Tahir Abbas, Head of Research at Arif Habib Limited, noted a bullish trend in the market following a three percent correction over the last three days, with investors showing optimism towards the new IMF program and the upcoming investor-friendly budget.
The PSX had recently reached an all-time high of 73,000 points on April 29 before experiencing fluctuations in the following days, including a dip to 70,657 points on May 2. Earlier milestones include the index hitting 72,742 points on April 26 and crossing the 72,000 mark for the first time on April 24.
