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KARACHI: For the first time in its history, the Pakistan Stock Exchange (PSX) flagship KSE-100 index surpassed 100,000, marking a momentous milestone.
After political tensions in the country started to diminish, leading to increased investor confidence, the index achieved a high of 100,502 on Thursday, reflecting a considerable gain of 1,233.28 points.
Notable year-to-date (YTD) and one-year changes also attest to the market’s overall performance. In the last year, the market has increased by 65.49 percent, and so far this year it has increased by 55.43 percent. More than 50 million shares were traded, which helped make this a memorable event.
This important event is seen as a sign of hope for Pakistan’s economy, and it shows that the stock market is recovering and people are optimistic after the political uncertainties.
Important industries like as banking, automotive, oil and gas, and power production propelled the market throughout the record-breaking stock market boom, with equities such as FFC, HBL, and PPL making significant contributions. Political calm and encouraging economic data, such as falling inflation and a stable local currency, drove the market higher.
Based on the country’s improving economy and currency stabilization, Bloomberg predicted 27 percent growth for PSX by the end of next year last month. A favorable atmosphere for growth has been established by the country’s economic stabilization, reducing inflation, and reduction of interest rates to 15%.
Since the South Asian country is drawing more international investment, particularly in its debt and stock markets, trend-spotters associate it with falling interest rates, a steady rupee, and better macroeconomic circumstances.
