ISLAMABAD: The Pakistan Stock Exchange (PSX) achieved another milestone of reaching the 3rd consecutive historic and all-time high on Tuesday as the KSE-100 index reached the 54000 benchmark in the middle of the trading.
However, due to the continued Bullish trend for the last couple of days, including the early session on Monday, the index went down due to profit-taking and closed with a slight bearish trend at 53736 while losing 124 points.
On Monday at around 10 am the index recorded trading at 54,220, which was another all-time high after the last day. The previous day, the index reached an all-time high of over 53500 points after an interval of six years. In May 2017, the index reached its highest level, above 53000 but below 53500.
Continued Bullish Trend at PSX
Market experts attributed the recent continued bullish trend to the positive indicators and business environment in the country. It included the recent announcement of the general election, a positive response from the IMF, and no change in the interest rate recently announced by the State Bank of Pakistan.
The IMF’s review mission is in Pakistan currently to complete the first review under the $3 billion loan programme, and if successful, the lending body would release the second tranche of $710 million by the end of December 2023, which would further assist the business environment in the country including appreciation of the local currency.
