PAKISTAN – (Web Desk) – PSX gains today pushed the KSE-100 index up by more than 3,700 points, marking a strong start to the new fiscal year. The benchmark index closed at 184,050.10 points, rising 3,748.40 points, a gain of 2.08 percent. Trading stayed positive throughout the day, with the index climbing steadily from its lowest point of 180,565.83 recorded early in the morning session.
This upward move follows Tuesday’s recovery, when the market crossed the 180,000 mark and wrapped up the previous fiscal year on a high note.
Market experts say investor confidence grew after inflation numbers for June came in lower than expected. Awais Ashraf, who heads research at AKD Securities, said the fresh price data supported the belief that inflation pressure is easing across the country.
Pakistan’s consumer price index rose 11.1 percent compared to last year in June. This was lower than May’s reading of 11.7 percent and fell within the government’s expected range of 11 to 12 percent, according to the Pakistan Bureau of Statistics.
Looking at monthly numbers, prices actually dropped 0.3 percent in June. This is different from May, which saw a 0.5 percent rise, and also lower than the 0.2 percent increase seen in June of last year.
Ashraf explained that easing inflation has raised hopes for interest rate cuts soon. He added that falling oil prices, following a temporary ceasefire between the US and Iran, are expected to keep inflation within the central bank’s target range during the coming fiscal year.
Just days earlier, the market had faced heavy selling pressure after the US and Iran exchanged military strikes over the weekend, causing the index to drop 1,156.47 points on Monday.
Despite that setback, the year now ending turned out to be one of the best in PSX history. The KSE-100 index delivered a 44 percent return in rupees and 46 percent in dollar terms, climbing from 125,627 points at the start of the year to 180,302 points by its close.
Looking ahead, analysts believe the index could move toward its record high of 189,000 points. They point to falling oil prices and growing hopes of interest rate cuts as key drivers, while also warning that inflation trends, central bank decisions, and global tensions will continue to shape market direction.
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