The Pakistan Stock Exchange (PSX) continued its bullish run for the third consecutive day on Tuesday, with the KSE-100 index crossing the 54,000 mark. The index gained 417.69 points, or 0.78%, to reach 54,278.05 points.
Analysts attributed the rise to expectations of a monetary policy rate cut and strong corporate profitability. The announcement of the general elections also boosted investor sentiment, as investors hoped for political stability in the country.
The IMF is currently in Pakistan to complete the first review under the $3 billion loan program. If the two sides can reach a staff-level agreement, the second tranche of $700 million could be released by the end of December 2023.
