The upward momentum at the Pakistan Stock Exchange (PSX) continued on Tuesday, with the benchmark KSE-100 index climbing to fresh record levels amid strong investor interest and positive market sentiment.

On the second trading day of the week, the index rose by 399 points to reach 156,486 before further gains pushed it up by 533 points to a new all-time high of 156,621 during intra-day trading.

The surge followed Monday’s rally, when the index closed at 154,969 after adding 691 points.

Momentum carried through the session, lifting the benchmark by 1,274 and then 1,692 points to end the day at 155,969 its highest close at the time.

Market analysts said improved investor confidence and favourable business trends were driving the consistent rally.

The index had already crossed the 154,000-point mark at the end of last week, a level now surpassed by successive record gains this week.

Yesterday, Prime Minister Shehbaz Sharif expressed profound satisfaction over the PSX’s performance.

In a statement, the premier lauded the efforts of his economic team, emphasising that the landmark performance reflects the business community’s growing confidence in the government’s reform-driven economic policies.

“The PSX’s record performance showcases the resilience of our economy and the trust of investors in our forward-looking policies,” the PM remarked.

KTrade Securities wrote in its market wrap that the bourse continued the bullish momentum as the KSE-100 climbed 1,810 points to close at a new all-time high of 156,087.

Arif Habib Limited (AHL) Head of Research Sana Tawfik told that multiple factors were driving the bullish sentiment.

First of all, investor enthusiasm grew following news that the government was actively working to resolve the longstanding circular debt issue in the energy sector, a key challenge afflicting Pakistan’s economy.

JS Global analyst Mubashir Anis Naviwala commented that strong investor interest was seen in investment banking, power generation, exploration & production (E&P) and cement sectors.

Overall trading volumes increased to 1.13 billion shares compared to 1.08 billion in the previous session. Traded value stood at Rs62.3 billion.

Shares of 482 companies were traded. Of these, 229 stocks closed higher, 228 fell and 25 remained unchanged.