The Pakistan Stock Exchange (PSX) reached a record on Tuesday while investors’ confidence increased before the federal budget announcement, while the KSE-100 index had jumped from 782.56 points, the current index at 122,423.56, winning 0.64% during intra-day trade.
Using the activity after the Eidul Azha holidays, the negotiation session started with a positive dynamic, based on the high performance of the market. Investors’ confidence, reflected in the record performance of the Pakistan Stock Exchange, follows the presentation by MODAY of the economic survey of Pakistan 2024-25.
The market has briefly reached a summit of 122,611.53 points before settling at 122,423.56 points during the intraday trading.
The negotiation volumes remained robust with 144,033,353 shares exchanged, and the total value of the negotiated shares reached 7.78 billion rupees. The closing of the day before was recorded at 121,641.00 points.
At the end of the previous week, PSX continued its positive momentum, the KSE-100 reference index reaching a summit of 121,798 points on June 4, before settling at 121,641, marking a weekly gain of 1,950 points (+ 1.63%).
Find out more: PSX History on Macro Boost
The rally was motivated by positive developments, in particular successful budget talks with the IMF, approval by the Asian bank for the development of a funding set of $ 800 million and the finalization of a circular debt resolution agreement of 1.275 Billion of rupees with banks.
Macroeconomic indicators have also supported the feeling, with an increase of 10% of annual sliding oil sales, inflation based on the IPC which holds up to 3.5% and a 23% reduction in trade deficit.
However, the reserves of the State Bank fell slightly $ 7 million to $ 11.5 billion.
Sector banks, commercial banks, electricity production, fertilizers and food products led to gains.
Foreign sales amounted to $ 14.7 million, an increase compared to the previous week.
