The stock market is experiencing a significant upward trend, with the index surpassing 50,700 points last Friday and maintaining its positive momentum into the new trading week. The week started with a remarkable increase of nearly 600 points.
Opening at 50,731.86 points, the index swiftly climbed to 51,330.92 within the first two hours of trading. By 11 a.m., it had recorded a substantial gain of 534.55 points, reaching 51,266.41 points.
This bullish trend in the stock market is underpinned by a series of positive macroeconomic indicators, which are instilling confidence in investors and providing a stable foundation for capital market activities.
Analysts have highlighted various factors contributing to this notable surge. One of the most prominent factors is the anticipation of a favorable outcome from the upcoming monetary policy announcement scheduled for October 30. This eagerly awaited announcement is expected to have a significant impact on market dynamics.
Additionally, the impending review by the International Monetary Fund (IMF) holds substantial importance as it is seen as a potential seal of approval for the government’s economic policies. These factors are enhancing investor sentiment and propelling the stock market to new heights.