The Pakistan Stock Exchange has crossed a major milestone, crossing the 100,000 points mark
The Pakistan Stock Exchange (PSX) crossed the 100,000-point mark on Thursday, hitting an all-time high. The benchmark KSE-100 index rose 1.09%, up 1,077.25 points to 100,346.50 points, up from the previous close of 99,269.25 points.
According to a Geo News report on Thursday, this follows a recent decline in the market, which saw a decline of over 3500 points due to political unrest. However, after the protests ended, the market recovered and rallied over 4,600 points.
Experts attribute the milestone to factors such as government reforms, declining productivity and low inflation expectations. According to the Ministry of Finance, the inflation rate is expected to decrease to 5.8%-6.8% in November and further 5.6%-6.5% in December.
The KSE-100 index has gained 60% year-to-date, 47% from capital gains and 13% from dividend yield. Sectors contributing to this growth include commercial banks, fertilizers, and oil and gas exploration, with top stocks such as Fuji Fertilizer and United Bank Ltd.
Analysts also highlight expectations of the government’s adherence to the IMF program and increased mutual fund investment in equities as key drivers of the market rally.
