The Pakistan Stock Exchange (PSX) set a new milestone on Monday, reaching an unprecedented high of 81,295 points.
This remarkable achievement saw the market gaining 1,351 points, marking a significant surge of 1.66% from its previous closing at 79,944 points.
Analysts attribute this record-breaking performance to several factors, including heightened investor confidence driven by prospects of state-owned enterprises (SOEs) privatization. Prime Minister Shehbaz Sharif’s announcement regarding the initiation of the bidding process for Pakistan International Airlines (PIA) in August has particularly boosted investor sentiment.
Moreover, the recovery of the Pakistani rupee against the US dollar and positive expectations surrounding upcoming negotiations with the International Monetary Fund (IMF) have further contributed to the bullish outlook.