Breaking Records: Pakistan Stock Exchange spikes to New Heights as KSE-100 Index Reaches an Unexpected 81,968.93 Points, Record a Memorable Day for Investors!
The Pakistan Stock Exchange market gained 1,507.60 points, or 1.87%, from the previous closing of 80,461.33. This record-breaking performance beat the previous all-time high of 81,939.84 points established in July 2024.
The amount of trading increased significantly, with 74.93 million shares traded, valued at Rs6.29 billion. The KSE-100 index achieved an intra-day high of 81,975.21, while the day’s low was 80,680.23.
A $7 billion Extended Fund Facility (EFF) for Pakistan was approved by the IMF earlier on Wednesday, raising expectations and contributing to a major increase in market confidence.
Ahsan Mehanti, Managing Director of Arif Habib Corp., stated that “stocks closed bullish on speculation ahead of the IMF executive board meeting on September 25 for approval of a $7 billion EFF amid robust economic data showing surging remittances and exports, and a falling trade deficit.”
Investor confidence was further increased by other encouraging news from the Asian Development Bank (ADB), which confirmed a $2 billion annual concessionary loan for Pakistan until 2027 and the rupee’s continuing stability.
Strong results in several important areas propelled the market bounce, and expanding exports and remittances also contributed to the improvement in attitude. The improving picture for Pakistan’s economy was further reinforced by the declining trade deficit.
Given the strong economic data and expected capital inflows, analysts predict that the PSX will continue to rise over the next few days.
In the near future, the IMF board’s decision about the EFF, along with the strength of remittances and export growth, are anticipated to continue to be major factors influencing market performance.
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