The Pakistan Stock Exchange (PSX) has witnessed a remarkable surge on Thursday, with the KSE 100 index reaching an all-time high, soaring over 661 points.
As the clock struck 11:54 am, the benchmark KSE-100 index proudly stood at 67,208 points, a notable increase from the previous session’s close of 66,547 points.
Arif Habib Limited, a prominent brokerage house, took to social media platform X, formerly known as Twitter, to announce this historic milestone. They highlighted that the PSX had surpassed its previous intraday high, crossing the 67,094 mark.
Market experts attributed this bullish trend to recent positive economic developments, including successful talks between Islamabad and the International Monetary Fund (IMF) mission. Additionally, the government’s commitment to privatization plans, notably the approval of Pakistan International Airlines’ (PIA) restructuring plan, played a significant role in boosting investor confidence.
Muhammad Sohail, an economic analyst, emphasized that the government’s swift actions towards privatization were viewed positively by investors. He highlighted the importance of recent discussions with the IMF and the news surrounding Pakistan’s potential retention in the emerging market index by FTSE, a UK-based index provider, which drew increased foreign investor attention.
Sohail noted that Pakistan had already attracted around $50 million in investment from foreign investors in the Pakistan Stock Exchange within two months of the elections.
Overall, the surge in the Pakistan Stock Exchange reflects growing investor confidence in the country’s economic trajectory, provided the positive momentum is sustained.
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