The Pakistan Stock Exchange (PSX) is experiencing a strong bullish trend for the fourth consecutive day, with the benchmark KSE-100 index crossing the psychological barrier of 83,000 points after an increase of over 400 points today.
According to the PSX website, during the break for Friday prayers, the KSE-100 index reached 83,166, reflecting a rise of 0.54% or 444 points, compared to yesterday’s closing at 82,721.
It’s worth noting that yesterday, the benchmark KSE-100 index had increased by 754 points, restoring the psychological level of 82,000.
Earlier, on October 1, the index had risen by 690 points, reaching 81,114.
On September 30, the first trading day of the week, the Pakistan Stock Exchange experienced a downward trend, with the KSE-100 index declining by 910 points. However, by the end of trading, the index had slightly recovered, closing at 81,114 with a decrease of 177 points or 0.22%.
Owais Ashraf, Director Research at AKD Securities, stated that they expect a positive impact on the economy following the approval of the IMF loan program, as it would bring stability to external accounts.
Shahab Farooq, Director Research at Next Capital Limited, attributed the negative trend to the overall situation in the Middle East.
Notably, despite the International Monetary Fund’s (IMF) approval of a $7 billion bailout package on September 26, the stock exchange saw a reversal from an initial bullish trend, with the index dropping by 589 points during early trading.
Just a day before that, the KSE-100 index had gained 764 points, restoring the psychological level of 82,000.
