PSX Maintains Record-Breaking Streak with Over 2,000-Point Surge

The Pakistan Stock Exchange (PSX) continued its historic rally on Friday as the benchmark KSE-100 index soared by 2,018.57 points (2.07%), reaching an intra-day high of 99,346.96—up from the previous close of 97,328.39.

Tahir Abbas, Head of Research at Arif Habib Limited, attributed the surge to improving macroeconomic indicators, including expectations of lower inflation at around 4.5% this month and the potential for further interest rate cuts in the near future.

"The market is riding a wave of positive momentum," Abbas explained. "Robust local liquidity, driven by diverse investor groups, is consistently fueling growth."

In addition to these factors, the influx of investments from mutual funds, banks, and insurance companies is bolstering market confidence. Despite consistent gains, experts say PSX remains an attractive option for investors.

Market analysts also credit surging foreign exchange reserves, optimism over government-led economic reforms, and privatization initiatives for playing a pivotal role in the rally.

This record-breaking growth underscores the market's resilience, signaling a positive trajectory amidst an evolving economic landscape.