Pakistan Stock Exchange hits record high amid economic stability

The Pakistan Stock Exchange (PSX) witnessed a bullish trend on Monday, with the benchmark KSE-100 index surpassing the 69,000 mark for the first time. The index recorded a significant gain of 1,203.20 points or 1.76%, closing at 69,619.98 points, up from the previous day's close of 68,416.78 points.

Market analysts attributed this milestone to various factors, including economic stability, expectations of a new International Monetary Fund (IMF) deal, and the ongoing privatization efforts, particularly focusing on Pakistan International Airlines (PIA). Investors' confidence was bolstered by the government's commitment to prioritize privatizing state-owned enterprises facing losses to improve fiscal conditions.

Furthermore, the upcoming receipt of the IMF's last tranche and positive sentiments regarding the privatization process contributed to the market's positive outlook. Traders anticipate a continuation of this trend in the short trading week ahead of the extended Eid holidays, with expectations of further improvements in market sentiment driven by developments related to SOEs privatization and the IMF's Extended Fund Facility program.

As the market closed the previous week with a notable increase of 2.11%, reaching 68,417 points, investors are optimistic about the market's performance in the coming days. The outlook remains positive, with a focus on key economic indicators and policy decisions that are expected to sustain the current momentum in the stock market.