In Karachi, the Pakistan Stock Exchange (PSX) has sustained its upward trajectory, marking the beginning of the business week with a notable surge of 850 points. This surge propelled the 100 index beyond the significant threshold of 63,000 points, reaching a level of 63,665 points.
Reports from news suggest that investor optimism is primarily fueled by expectations surrounding the formation of a new coalition government. Anticipation mounts as investors foresee the incoming government securing the final installment of the ongoing International Monetary Fund (IMF) program, alongside potential involvement in a new loan program valued between 6 to 7 billion dollars. This optimism stemming from prospective developments has contributed to the ongoing momentum of the Pakistan Stock Exchange.
Investors are confident in the awareness of the economic challenges by the proposed coalition government, considering its brief tenure prior to the caretaker government. With a fresh mandate of five years, there’s hope that the incoming coalition government will prioritize IMF program adherence and steer the economy towards stability, ensuring the continuation of reform efforts.
