Pakistan Stock Exchange named best in the world by Bloomberg

The Pakistani economy is witnessing a significant boost as the International Monetary Fund (IMF) Executive Board prepares for a crucial meeting next week. In a notable development, Bloomberg, a global news organization, has recognized the Pakistan Stock Exchange (PSX) as the best market in the world for 2024.

This recognition coincides with a remarkable surge in foreign investment within the stock market. According to Bloomberg, foreign investors have made purchases totaling approximately $8.7 million in 2024 alone, indicating a robust trend in both foreign investment and overall economic indicators associated with the PSX.

The KSE-100 Index has been on an upward trajectory, achieving a historic milestone by surpassing the 82,000-point threshold for the first time ever. On Friday, the index closed at an impressive 82,125 points after a surge of 666 points, showcasing a remarkable recovery in investor confidence following periods of volatility.

Despite some fluctuations during trading sessions, including a brief dip at the start of the day, the overall market sentiment remains strong. Analysts predict that the anticipated approval of a new $7 billion bailout package from the IMF will further stimulate trading activity, enhancing investor confidence and supporting continued market growth.