The Pakistan Stock Exchange (PSX) witnessed a historic surge in intraday trade as the benchmark index, KSE-100, surpassed the 60,000 mark on Tuesday, marking a new record high.
At 10 am, the KSE-100 index experienced a notable uptick of 564.50 points, or 0.94%, compared to the previous day's close at 59,811.34, effectively breaking through the 60,000 barriers.
This upward trend had originated in the preceding week and was attributed by analysts to appealing valuations, corporate profitability, decreased economic volatility, and the successful finalization of a staff-level agreement with the International Monetary Fund (IMF).
Furthermore, market experts anticipated a sustained positive momentum, citing expectations of stabilized inflation and a forthcoming phase of monetary easing.
Experts linked the rally to anticipated IMF inflows in the upcoming month and robust fundamental performances across sectors, combined with attractive valuations.
She also highlighted the anticipation of an interest rate reversal cycle, making the equity market an attractive option and prompting a shift in fund allocations from fixed income to equities.