Pakistan Stock Exchange Reaches Historic High as KSE-100 Index Surpasses 90,000 Points
The Pakistan Stock Exchange (PSX) continued its record-setting momentum at the start of the business week, with the KSE-100 index climbing 738 points in early trading to hit an all-time high of 90,732 points.
Key Market Highlights:
- Early Trading Surge: At 10:10 a.m., the KSE-100 index recorded a 0.82% increase, marking a significant milestone in PSX history.
- Previous Week’s Rally: On October 25, the KSE-100 index crossed the psychological 90,000-point mark, following a 1,110-point increase, although it closed the week just below at 89,994 points.
Muhammad Sohail, CEO of Topline Securities, highlighted this recent momentum, noting a 137% rise in the index from 38,000 to 90,000 points over the past two years. Such rapid growth, he explained, was last observed in 2010 when markets recovered sharply following the global financial crisis.
Government’s Response and Economic Indicators
Prime Minister Shehbaz Sharif celebrated the KSE-100 index surpassing 90,000 points, attributing this robust growth to investor confidence and the government’s economic policies. He pointed out that inflation has dropped significantly from 38% to 6.9% in recent months, which, along with the stock market gains, reflects the impact of economic reforms.
Currency Market Update
In the interbank market, the US dollar experienced a slight decrease, down by 9 paise from 277.64 to 277.55 rupees.
The strong performance of the PSX and the stable rupee signal a period of positive economic sentiment in Pakistan, supported by sustained investor confidence and government initiatives.