The Pakistan Stock Exchange (PSX) made history on Friday by breaking through the 90,000-point threshold, a landmark achievement for the country’s financial markets. The benchmark KSE-100 index surged by 1,100 points at the start of the session, rising to 90,000 from the previous day’s close of 88,945.98 points.
As prices soared, investors took advantage of profit-taking opportunities, slightly cooling the index. By 10:15 a.m., it was trading at 89,684.11 points, up 738.13 points, or 0.82%.
The bullish momentum has been building steadily, with shares surpassing both 88,000 and 89,000 milestones on Thursday. Market analysts suggest that a potential 200-basis-point reduction in the State Bank of Pakistan’s (SBP) policy rate, expected at its November 4 meeting, has fueled optimism. This would mark the fourth consecutive rate cut, driven by lower inflation, a controlled current account deficit, and stronger remittance inflows.
On social media platform X, the Finance Ministry announced that Finance Minister Muhammad Aurangzeb, during a meeting in Washington with an ITFC delegation, expressed appreciation for its commitment to a $3 billion commodity financing program over the next three years.
As of this week, the PSX’s average trading volume has increased by 73.36% year-on-year, reflecting heightened investor interest and confidence in Pakistan’s financial market.
