he stock market upward mobility continued on Tuesday despite a brief hiatus in trading after sudden eruption of fire in the PSX building in early hours of the start of the week’s trading on Monday.
The Pakistan Stock Exchange gained 456 points, taking the KSE-100 index to a record high of 81,023 points on Tuesday.
The scaling of new peaks in the stock market is said to be buttressed by prospects of a staff-level agreement with the International Monetary Fund (IMF) and easing of tight monetary policy by the State Bank.
Moreover, the World Bank’s support for privatisation of underperforming state-owned enterprises (SOEs), tax measured promised by the government in the budget 2024-25 and speculations surrounding robust corporate returns have contributed to bolstering the investors’ sentiment.