Exciting news from the Pakistan Stock Exchange (PSX) as shares reached a new milestone, crossing 80,000 points on Wednesday with a climb of over 600 points.
The benchmark KSE-100 index soared to 80,180.87 points from the previous close, closing at a record-high of 80,233.67. The bullish trend was fueled by surging global crude oil prices, expectations for strong dividend payouts from the oil sector, and positive talks for an IMF bailout deal.
Analysts predict an upward momentum with the expectation of entry into a larger IMF program and monetary easing, boosting investor confidence. The market’s attractive valuations and stable currency outlook are also contributing factors.
As the market rallies towards finalizing the IMF deal, the KSE-100 Index hit an all-time high of 80,300. With stable currency and expectations for monetary easing, sectors such as oil & gas and banking are expected to perform well.
Overall, the market is showing resilience and growth, attracting more investors and stakeholders towards a positive outlook for the future.