ISLAMABAD: Pakistan Stock Exchange (PSX) crossed the 100,000-point mark, reaching a historic high and reflecting strong investor confidence driven by positive economic trends.
As per report, the PSX benchmark KSE-100 Index rose by 1,077.25 points or 1.09%, reaching 100,346.50 points during intra-day trade, up from the previous close of 99,269.25 points.
Stocks had declined two days ago due to political instability, with the market experiencing a crash of over 3,500 points after PTI’s march on Islamabad turned violent.
However, it rebounded, surging by over 4,600 points to close at 99,269.25, shortly after the party called off its protest following a government crackdown on demonstrators.
Market experts attributed the historic milestone to various factors, especially the government’s steadfast commitment to implementing reforms.
Samiullah Tariq, head of research at Pak-Kuwait Investment Company, told private media that declining yields and lower inflation expectations are also boosting the market.
Inflation is projected to slow to 5.8%-6.8% in November, and then further to 5.6%-6.5% in December, the finance ministry said in its monthly economic report.
The KSE-100 Index’s historic milestone also reflects a 60% year-to-date gain driven by a mix of 47% capital gains and 13% dividend yield.
Key contributing sectors include commercial banks, fertilisers, and oil and gas exploration, while top stocks like Fauji Fertilizer and United Bank Ltd played a pivotal role.
The analyst noted that a key factor driving the market’s upward momentum was the government’s consistent adherence to the International Monetary Fund’s (IMF) programme.
