For the first time in its existence, the market on the Pakistan Stock Exchange (PSX) has crossed the 81,500-point threshold, marking an extraordinary milestone.
With a notable uptick in the positive trend, the KSE-100 Index reached a new high of 81,700 points, up 600 points.
Following a two-day recess, the stock market began the trading day with a clear bullish trend. The stock market first broke over the PSX’s all-time high of 81,500 points due to this rising momentum. At the onset of trade, the KSE-100 Index gained 380 points, totaling 81,525 points.
Market analysts believe that a mix of favorable economic data and optimistic market sentiment is responsible for this bullish trend.Growing optimism in the nation’s economic prospects and the success of important sectors is reflected in the stock market’s surge.
In its most recent Asian Development Outlook report, the Asian Development Bank (ADB) predicted high inflation in Pakistan this year, despite these encouraging trends. The analysis suggests that Pakistan’s debt load may lessen even though inflation is expected to remain high.
