ISLAMABAD: The Pakistan Stock Exchange (PSX) soared past the 111,000-point mark shortly after the market opened today, setting another record on Tuesday.
The benchmark KSE-100 Index surged by an impressive 1,044 points within the first five minutes of trading, reaching 111,014 points.
This remarkable ascent underscores growing investor confidence and upbeat market sentiment, signaling robust performance in the financial sector.
Meanwhile, Remittances surged to $14.8 billion in the first five months of FY2025, reflecting a 33.6% year-on-year increase, according to the State Bank of Pakistan (SBP). November alone recorded inflows of $2.9 billion, a 29.1% rise compared to the same month last year, though slightly below October’s figure.
Key factors driving this growth include a stable rupee, government incentives for banks and money exchangers, and increased emigration. Over one million skilled professionals have left Pakistan in the past three years, significantly bolstering official remittance inflows. Additional measures, such as curbing illicit currency trading and easing global inflation, have further supported this upward trend.
Macroeconomic indicators also signal improvement, fostering market optimism. Inflation dropped to 4.9% in November, the lowest since April 2018, creating room for potential monetary policy easing. Saudi Arabia’s decision to extend a $3 billion deposit for another year and formalized trade agreements worth $560 million have strengthened foreign reserves and boosted investor confidence.
Economic activity remains robust. Petroleum sales in November reached a 25-month high of 1.58 million tons, while the government’s successful Rs353 billion Ijarah Sukuk auction has injected liquidity into the financial system.
The Pakistan Stock Exchange (PSX) extended its rally for the ninth consecutive session on Monday. The KSE-100 Index gained 916.43 points, or 0.84%, to close at 109,970.38, after touching an intraday high of 110,248.98.
Investors are now closely watching the State Bank of Pakistan’s monetary policy meeting on December 16, with expectations of a significant rate cut that could provide further momentum to the market.
