The Pakistan Stock Exchange (PSX) reached a milestone on Wednesday, with the KSE-100 index surpassing 80,000 points during intra-day trading, hitting 80,193.76 points at 11.28 AM, up 640.88 points from the previous session close of 79,552.88.
This advance continues a positive trend that began on Tuesday, when the index exceeded 79,000 points.
The market's upward momentum is attributable to higher global crude oil prices, solid dividend expectations from the oil industry, and continued favorable talks about an International Monetary Fund (IMF) bailout deal.
The PSX had previously restored its status as the world's best-performing market in fiscal years 2023–24, increasing by 89% in local currency terms and 94% in US dollar terms.
The market had multiple record-breaking advances, notably in June 2024, which resulted in a market capitalization of more than Rs10 trillion.
Earlier this week, the PSX gained roughly 380 points on the first trading day of the new fiscal year, followed by a significant 892-point advance on Tuesday.
The momentum carried over to Wednesday, culminating in the astounding passing of the 80,000-point threshold.