KARACHI – Pakistan Stock Exchange (PSX) achieved remarkable feat, with flagship KSE-100 index surpassing the 100,000 mark for the first time in history.
On Thursday, the index hit high of 100,502, representing significant gain of 1,233.28 points as strong bullish trend came after political tensions in the country began to subside, leading to increased investor confidence.
Pakistan Stock Exchange 1-Lac Mark
The overall market performance was also reflected in impressive year-to-date (YTD) and one-year changes. YTD, the market has surged by 55.43%, while in the past year, it has risen by 65.49%. The trading volume stood at over 50 million shares, contributing to this historic achievement.
This milestone is seen as a positive indicator for Pakistan’s economy, and it reflects a recovery and optimism in the stock market following political uncertainties.
Amid record rally at stock market, key sectors like banking, automobiles, oil and gas, and power generation pushed the market, with notable contributions from stocks like FFC, HBL, and PPL. The market’s rise was fueled by easing political unrest and positive economic indicators, including expectations of lower inflation and a stable local currency.
Last month, Bloomberg projected 27pc growth for PSX by the end of next year, citing improvements in the country’s economy and currency stabilization. The country’s economic stabilization, easing inflation, and a reduction in interest rates to 15% have created a favorable environment for growth.
Those familiar with market trends link it with declining interest rates, a stable rupee, and improving macroeconomic conditions, as the South Asian nation is attracting more foreign investment, especially in its debt and equity markets.
PSX starts week with strong rally, surges past 91,000 for first time
