The Pakistan Stock Exchange (PSX) reached a significant milestone on Wednesday, surpassing the 75,000 mark in early trading hours.
At 10:11 am, the benchmark KSE-100 index surged to 75,115.32 during intraday trading, although it later dipped below the 74,000 mark. This followed the previous day’s closing of the KSE-100 Index at 74,531.19 points.
Samiullah Tariq, head of research at Pak-Kuwait Investment Company, attributed the positive market response to optimism surrounding the new International Monetary Fund (IMF) program. Additionally, expectations of an interest rate cut in the upcoming monetary policy, fueled by declining inflation rates, are contributing to the market’s upward momentum.
Investor sentiment remained buoyant as talks with the IMF on a new loan program progressed positively, alongside hopes of increased investment from Saudi Arabia. This optimism propelled stocks to a fresh all-time high, with the PSX closing at 74,531.19 points on Tuesday, marking a gain of 732.08 points or 0.99%.
