The stock market experienced a significant rebound, surpassing the 97,000 mark for the first time, despite political uncertainties stemming from the main opposition party’s “do-or-die” protest scheduled for November 24.

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Shares Index soared by 1,744.77 points, or 1.83%, reaching 97,291.22 during intraday trading.

Ahsan Mehanti, Managing Director and CEO of Arif Habib Commodities, pointed out the key factors driving this record surge, stating, “Stocks were bullish across the board as investors reacted to the decline in government bond yields and positive economic data regarding the current account surplus, remittances, exports, and foreign direct investment.”

He added that increasing foreign exchange reserves and speculation regarding government actions on economic reforms and privatization played a crucial role in the PSX’s remarkable rise.

Additionally, the government successfully raised Rs350 billion through the auction of Pakistan Investment Bonds (PIBs), surpassing the target of Rs300 billion, with yields on five-year and 10-year bonds dropping to their lowest levels since March 2022.