The Pakistan Stock Exchange (PSX) has achieved a historic milestone, with the KSE-100 Index crossing the 80,000-point mark for the first time in its history.
The Index experienced a significant surge of 1,237 points during trading, reaching an unprecedented 80,039 points. This remarkable increase represents a doubling of the Index in just one year, with the KSE-100 Index standing at 40,000 points on June 23, 2023.
This surge reflects a restoration of investors’ confidence after the IMF-approved federal budget paved the way for a billion-dollar loan deal.
The PSX had broken its own records in an earlier trading session, with the Index climbing 1,115 points to reach 79,916 points, and before that increasing by 843 points to hit 79,640 points, both unprecedented figures at the time.
The surge in the stock market comes on the heels of the Eid holidays, with investor sentiment buoyed by positive economic indicators and renewed confidence in the market.
A major contributing factor has been the government’s successful alignment of its budget with the International Monetary Fund’s (IMF) requirements, paving the way for a crucial loan agreement. This has restored investor confidence and sparked optimism about the country’s economic future.
