PSX Soars Past 88,000 Points Amid Investor Optimism
On Thursday, the Pakistan Stock Exchange (PSX) hit an intraday high of over 88,000 points, with strong investor interest in rate-sensitive sectors. The KSE-100 index rose by 901 points to reach 88,095, up from 87,194.53 the previous day.
Saad Ali, Director of Research at Intermarket Securities, noted that the market has been bullish since the International Monetary Fund (IMF) approved a $7 billion loan for Pakistan. Additionally, political tensions eased following the approval of the 26th Constitutional Amendment, despite ongoing protests from the Pakistan Tehreek-e-Insaf (PTI).
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Brokerage Arif Habib Limited reported a remarkable 41% gain for the PSX in 2024 and an 8.5% increase month-on-month, making it one of the top-performing equity markets globally. Analysts expect the State Bank of Pakistan to cut the policy rate by 200 basis points in its upcoming meeting, further boosting investor confidence.
