On Monday, the opening day of the new fiscal year, the Pakistan Stock Exchange (PSX) saw a 700-point increase.
The positive trajectory can be ascribed to anticipations of reduced inflation and the endorsement of the IMF tranche following the National Assembly’s enactment of the tax-heavy budget.
The KSE-100 index increased by 704.08 points on Monday morning, closing at 79,149.04. At 78,444.96 points, it was last closed.
According to analysts, a reduction in inflation and the International Monetary Fund’s (IMF) approval of the loan tranche are anticipated. In the second week of July, an IMF delegation is scheduled to visit Pakistan.
HISTORICAL HIGHEST
A few days prior, the Pakistan Stock Exchange (PSX) was experiencing a positive trend when the KSE-100 index broke another record by crossing the 80,000 point threshold.
On Friday, the final day of the workweek, the PSX had a robust surge, with the KSE-100 index rising to 80,001 points, a gain of 1,199 points.
The bull had taken the market by storm for the second day in a row. After rising by 2,095 points, the PSX established a record on Thursday, closing at 78,802 points.
The market was closed on Thursday due to the Eidul Azha festivities, therefore the 78,802 milestone was announced on the first day of the trading week.
