PSX achieves historic milestone as KSE-100 index surpasses 100,000 points
KSE-100 Index's performance reflects optimism, analysts caution that political stability remains a key factor influencing market sentiment.
ISLAMABAD: The Pakistan Stock Exchange (PSX) reached a historic milestone on Thursday, with the benchmark KSE-100 Index soaring past the 100,000-point mark for the first time in its history. The index hit an all-time high of 100,346.50 points during intra-day trading, marking a remarkable rally of over 1,000 points, or a 1.09% gain, amid a volatile week for the market.
The surge comes after a turbulent period for the stock market, which saw significant turmoil earlier in the week due to political unrest in Islamabad. On Tuesday, the market had experienced a sharp drop of over 3,500 points as violent clashes between police and protesters from the Pakistan Tehreek-e-Insaf (PTI) party disrupted the capital.
However, investor sentiment shifted positively after PTI announced it would call off its protest in the face of a heavy government crackdown, leading to a swift recovery in the market. The KSE-100 Index’s strong performance is seen as a reflection of renewed investor confidence, buoyed by the improving economic outlook for the country.
Market analysts attribute the rally to several positive economic indicators, including a favorable inflation outlook and continued growth in Pakistan’s industrial production. These factors have helped restore optimism among investors, contributing to the market’s impressive rebound.
“The crossing of the 100,000-point threshold is a testament to the resilience of Pakistan’s stock market and the strength of investor confidence, despite the political turbulence,” said a senior market analyst. “This surge signals that the market is finding its footing as the broader economic landscape improves.”
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While the KSE-100 Index’s performance reflects optimism, analysts caution that political stability remains a key factor influencing market sentiment. The future momentum of the market will depend largely on the ongoing political situation, which remains unpredictable due to ongoing protests and political disputes.
Despite these challenges, the PSX’s remarkable surge offers hope for Pakistan’s economic prospects, highlighting the potential for continued growth if the political and economic environment remains favorable for investment.
