KARACHI: The stock market continues its upward trajectory, with the index surging to over 50,700 points on last Friday.
The positive momentum carried into the new trading week, as the index opened with a remarkable jump of nearly 600 points.
Starting at 50,731.86 points, the index quickly climbed to 51,330.92 within the first two hours of trading. By 11 a.m., it boasted a substantial gain of 534.55 points, reaching 51,266.41 points.
This bullish trend in the stock market can be attributed to a series of positive indicators, particularly stemming from the macroeconomic sector. These indicators are instilling confidence in investors, providing a stable foundation for capital market activities.
Read Also: Pakistan Stock Market Faces Range-Bound Activity Amid Inflation Concerns
Analysts have identified several key factors contributing to this remarkable surge. Foremost among them is the anticipation of a favourable outcome from the upcoming monetary policy announcement scheduled for October 30. This highly awaited announcement is expected to influence market dynamics significantly.
Another crucial event on the horizon is the imminent review by the International Monetary Fund (IMF). This review carries substantial importance as it is seen as a potential seal of approval for the government’s economic policies. These developments are further bolstering investor sentiment and driving the stock market to new heights.
