Driven mostly by optimism that Pakistan’s economy was on the right track, as confirmed by solid data and International Monetary Fund (IMF) estimates for the fiscal year 2024-25, stocks broke through the psychological barrier of 87,000 points on Wednesday to hit a new historic high.
The benchmark KSE-100 Shares Index of the Pakistan Stock Exchange (PSX) increased 727.96 points to 87,194.53 points from Tuesday’s close of 86,466 points.
There was a bullish trend and significant purchases in blue-chip corporations from refineries, cement, chemicals, commercial banks, oil and gas exploration firms, and oil marketing companies (OMCs).
Investors were influenced by declining yields on fixed-income government assets, which suggested that interest rates would drop in the future, according to analyst Samiullah Tariq of Arif Habib Limited.
