KARACHI: The Pakistan Stock Exchange (PSX) kicked off the trading week on a notably bullish note, witnessing a robust surge in the benchmark SE-100 index, which gained a remarkable 707 points on Monday.
During the early trading hours, the KSE-100 index demonstrated an impressive ascent, rising by 707 points or 1.06 percent, reaching 63,525 at around 9:55 am local time. This surge follows yesterday’s closure at 62,815 points, continuing the positive momentum observed in recent sessions.
The trading activity of the previous week also showed promising trends as the index recorded a noteworthy rise of 901 points on the last business day.
Analysts attribute the ongoing bullish sentiment in the market to recent positive political developments in the country.
Mohammad Sohail, Chief Executive of Topline Securities, speaking to a private news channel, noted the market’s confidence following the news of the political consensus, attributing the surge to renewed investor optimism. Similarly, Owais Ashraf, Research Director at Akshir, emphasized the restoration of investor confidence with clarity surrounding the formation of the new government.
With the market showing resilience and investors displaying renewed enthusiasm, analysts maintain cautious optimism about the trajectory of the PSX in the upcoming sessions. They continue to closely monitor both domestic political dynamics and international market trends for further insights.
