The Pakistan Stock Exchange (PSX) reached a historic milestone on Thursday, surpassing the 100,000-point mark for the first time ever, as investor confidence surged amid positive economic indicators. The KSE-100 Index rose by 1.09%, climbing 1,077.25 points to hit 100,346.50 points during intra-day trading, up from the previous close of 99,269.25 points.
This remarkable rally follows a period of market instability, with the PSX experiencing a sharp drop of over 3,500 points earlier in the week due to political unrest. The market had suffered significant losses after violent clashes broke out during the PTI's march on Islamabad. However, the market quickly rebounded, soaring more than 4,600 points once PTI called off its protest, following a government crackdown on demonstrators.
Experts attributed the PSX's all-time high to several factors, most notably the government's strong commitment to economic reforms and its adherence to the International Monetary Fund's (IMF) programme. These actions have bolstered investor sentiment and driven the market's upward momentum.
Prime Minister Shehbaz Sharif congratulated the nation on the stock exchange's historic achievement, emphasizing that the rise reflects growing confidence in the government's policies. In his statement, the prime minister expressed gratitude for the efforts of the economic team, commending them for their work in promoting investment and economic stability.
Shehbaz also remarked on the government's sacrifices to prevent economic collapse, noting that the removal of political disruptions, particularly from the PTI, contributed to the market's recovery. He highlighted improvements in inflation rates, a stable 15% interest rate, and record remittances as indicators of economic progress. The prime minister reaffirmed the government's commitment to the nation's development, vowing to thwart any attempts to derail Pakistan's stability.