PSX Hits Record Highs as KSE-100 Index Surpasses 81,000 Points

The Pakistan Stock Exchange (PSX) kicked off the trading week on a highly bullish note, with the flagship KSE-100 Index surging past the 81,000-point mark within the first hour of trading. This remarkable rally followed the announcement of a staff-level agreement between Islamabad and the International Monetary Fund (IMF), fueling investor optimism.

Investors responded positively to the news, pushing the KSE-100 Index up by 1,248.82 points, equivalent to a 1.56% increase in a single day. The market’s bullish sentiment was further bolstered by the government’s decision not to impose new taxes on capital markets in the recently introduced budget.

“The announcement of the staff-level agreement provided much-needed support to Pakistan’s economy, which has been facing significant challenges,” noted market analysts. Earlier, Pakistan had secured a $3-billion loan under the IMF’s Stand-By Arrangement (SBA), aimed at stabilizing the country’s financial situation amidst economic pressures.

Despite ongoing economic challenges, including inflation and fiscal deficits, the PSX reported substantial gains, reaching an all-time high. Market participants expressed confidence in the resilience of the Pakistani market, driven by favorable economic policies and external financial support.