Will PSX sustain its bullish momentum in 2025?

Ammar, Akbar, and Anthony each had Rs1 million and chose to invest in the Pakistan Stock Exchange on January 1, 2024. Ammar, enjoying a Magnum, opted for Unilever Pakistan Foods. Feverish Akbar, popping antibiotics, went for GlaxoSmithKline. Anthony, acting on a whim, closed his eyes and randomly picked Al Shaheer Corporation. By the last Friday of 2024, their fortunes had diverged. Ammar shrugged off a Rs64,000 loss, while Anthony wept over a staggering Rs436,000 hit. Meanwhile, Akbar, celebrating a resounding Rs3.5 million profit, treated his friends to a lavish dinner. Their contrasting outcomes reflect the broader trends that shaped the PSX in 2024 — a year of booming rallies, sectoral highs, and optimism that had gainers and losers. The stock rallies have been the talk of investor circles in 2024, but the question remains whether the bullish trend is sustainable.