The Pakistan Stock Exchange achieved a historic milestone on Thursday, surpassing the 82,000-point mark for the first time ever.
This surge is attributed to positive economic indicators, including anticipated progress in negotiations for an IMF deal, a reduction in interest rates, and a current account surplus, all of which have bolstered investor confidence.
The market exhibited a strong bullish sentiment, breaking its previous record set on July 18, when the KSE-100 Index peaked at 81,939 points. During Thursday’s trading session, the index soared by 1,539 points, reaching the remarkable high of 82,000 points.
Analysts credit this record-breaking performance to a combination of favourable economic trends, notably the government’s ongoing discussions with the IMF regarding a loan programme aimed at stabilizing the economy. The decrease in interest rates has further encouraged investment in equities, propelling the market’s upward trajectory.
Earlier in the day, the PSX displayed a significant upward trend, with the benchmark index crossing 81,000 points for the first time in over two months. The session opened strongly, driven by investor optimism, and continued to gain momentum as trading progressed.
By midday, the KSE-100 Index had surged by 1,202 points, reaching 81,663 points, marking a notable recovery for a market that had lingered below the 80,000-point threshold for more than two months. The rally commenced at the start of the trading day, with the index initially climbing 705 points to hit 81,166 points, before gaining an additional 1,094 points to ultimately close at 81,555 points.
This positive trend coincides with a boost to Pakistan’s economy, as the current account recorded a surplus of $75 million in August, a significant turnaround from the $246 million deficit in July. This improvement is largely attributed to a record rise in remittances from overseas Pakistanis, contributing to greater economic stability.
