Stocks continued to rise Friday, temporarily surpassing the 95,000 mark and setting a new all-time high as positive factors, such as robust FX data and the impossibility of an IMF-mandated mini-budget, fueled a robust risk-on rally.
After flirting with an intraday high of 95,278.26 points, the benchmark KSE-100 Shares Index of the Pakistan Stock Exchange (PSX) surged to a record high of 94,763.64 points, up 571.75 points from the previous closing of 94,191.89 points.
The market’s upward trend highlights a surge in investor confidence driven by positive economic data.
Stocks hit a new all-time high in response to the bull run, according to Ahsan Mehanti, Managing Director & CEO at Arif Habib Commodities, as concerns over the mini-budget and the Islamabad High Court’s (IHC) financial relief subsided.
