The Pakistan Stock Exchange (PSX) continues its record-breaking streak, with the benchmark KSE-100 index reaching a historic high of 80,000 points today. The index surged by 1,199 points, or 1.52 percent, to close at 80,010 points by 9:47 AM, according to the PSX website.
This impressive rise follows a notable increase of 2,094 points the previous day, which had pushed the index to 78,801 points. The sustained positive momentum in the market is largely attributed to investor optimism surrounding a potential new bailout package from the International Monetary Fund (IMF), tied to the recently presented budget.
Mohammad Sohail, Chief Executive of Topline Securities, highlighted that the market’s bullish trend is fueled by these expectations. Additionally, Raza Jafri, Chief Executive of EFG Hermes Pakistan, pointed out that favorable news during the Eid holidays, such as Fitch’s revised inflation outlook and proposed reductions in power rates for industries, has further boosted investor confidence.
The PSX has shown remarkable growth over recent months. On June 14, just two days after the budget presentation on June 12, the KSE-100 index surpassed the 77,000 mark for the first time, gaining 877 points. This followed a previous high of 76,000 points on May 24 and another significant milestone of 75,096 points on May 15, when the index rose by 565 points.
Earlier in the year, on May 10, the KSE-100 index crossed the 74,000 mark, adding 427 points and reclaiming the psychological level of 73,000 during early trading. These consistent gains reflect a robust market outlook and the growing confidence of investors in Pakistan’s economic policies.
As the PSX continues its upward trajectory, market participants are keenly observing economic developments and policy measures that could further influence market performance. The recent trends underscore the potential for continued growth and stability in Pakistan’s financial markets
