ISLAMABAD: The Pakistan Stock Exchange (PSX) reached a historic milestone on Thursday, surpassing the 100,000-point mark, signaling robust investor confidence fueled by positive economic indicators.
The benchmark KSE-100 Index surged by 1,077.25 points (1.09%) during intra-day trading, climbing to 100,346.50 points from its previous close of 99,269.25.
Earlier this week, the market experienced a significant setback, plummeting over 3,500 points due to political instability following violent clashes during PTI’s march on Islamabad. However, the market rebounded strongly, gaining more than 4,600 points after the protest was called off amid a government crackdown on demonstrators.
Market analysts attributed this record-breaking performance to the government’s steadfast implementation of economic reforms. Head of Research at Pak-Kuwait Investment Company, noted that declining yields and easing inflation expectations have also bolstered investor sentiment.
According to the Finance Ministry’s latest economic report, inflation is expected to slow to 5.8%-6.8% in November and further to 5.6%-6.5% in December, providing additional confidence to the market.
The KSE-100 Index has achieved a remarkable 60% year-to-date growth, comprising 47% capital gains and a 13% dividend yield. Key sectors driving this growth include commercial banks, fertilizers, and oil and gas exploration, with leading stocks like Fauji Fertilizer and United Bank Limited playing significant roles in the rally.
