Pakistan Stock Exchange (PSX)

Pakistan Stock Exchange (PSX) experiences a remarkable surge as the benchmark KSE 100-share Index reaches a six-year high, surpassing 49,000 points. The index gains 560.20 points (1.15%) during intraday trade, settling at an impressive 49,324.50 points, last seen in June 2017. The market’s upward momentum is attributed to factors like the State Bank of Pakistan’s unchanged interest rates and the staff-level agreement with the IMF. Investor confidence is boosted by perceived lower macro risks, reduced political disruptions, and positive corporate results. The bullish trend continues with optimism for the fiscal year 2024. Market participants closely monitor economic developments, anticipating a promising period for Pakistan’s capital markets.