Pakistan Stock Exchange Milestone: PSX Hits 100,000 Points for the First Time

The Pakistan Stock Exchange (PSX) reached an all-time high on Thursday. It crossed the 100,000-point benchmark for the first time in history. This historic milestone reflects strong investor confidence and improving economic conditions.

The KSE-100 Index, PSX’s main indicator, jumped by 1,077.25 points, or 1.09%, to hit 100,346.50 points during intra-day trading. It had previously closed at 99,269.25 points.

Earlier this week, political instability caused a sharp market dip. The PTI’s violent protest in Islamabad led to a 3,500-point crash. However, the market rebounded, surging over 4,600 points after the protest ended. The index closed at 99,269.25 points on Wednesday.

Experts credit this historic rise to several factors. The government’s commitment to reforms played a key role. Samiullah Tariq, a leading financial analyst, noted that lower yields and declining inflation expectations boosted investor sentiment.

Inflation is expected to drop to 5.8%-6.8% in November and further decline to 5.6%-6.5% in December, according to the finance ministry’s report. These projections have encouraged market growth.

The KSE-100 Index has achieved a 60% year-to-date increase. This includes 47% capital gains and a 13% dividend yield. Major sectors driving this growth are commercial banks, fertilizers, and oil and gas exploration. Top-performing stocks, such as Fauji Fertilizer and United Bank Ltd, significantly contributed to the index’s climb.

Adherence to the International Monetary Fund’s (IMF) program has also boosted confidence. Tariq highlighted expectations of greater mutual fund investments as another key factor.

Prime Minister Shehbaz Sharif congratulated the nation on this remarkable achievement. He called it a sign of the business community’s trust in the government’s policies. The prime minister praised his economic team for their hard work.

PM Shehbaz emphasized the government’s sacrifices for economic stability. He stated they prioritized the country’s future over politics to avoid default. “Our efforts, by God’s grace, have borne fruit,” he said.

The prime minister criticized the PTI, referring to them as an “anarchist group.” He claimed the market stabilized once their protest ended.

Shehbaz pointed out additional positive developments. Inflation has declined, remittances have reached record levels, and the interest rate now stands at 15%. He reassured the public that the government will continue working for the country’s progress. He vowed to thwart attempts by those trying to derail Pakistan’s development.

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