Islamabad, Nov 4: Pakistan Stock Exchange Hits Record 92,000
On Monday, the Pakistan Stock Exchange (PSX) surged to all-time highs, breaking beyond the 92,000-point barrier for the first time.
The KSE-100 Index broke its previous intraday record of 91,872 points and increased by 1,022 points to hit an all-time high of 91,881 points.
A leading market expert said, “Today’s performance on the stock exchange is historic and indicates a strong outlook for investors.” “In the upcoming days, we might witness additional upward momentum if economic indicators stay stable.”
With a notable positive trend that saw the benchmark index increase by 786 points earlier in the day, the PSX got off to a good start to the workweek.
The KSE-100 Index reached 91,645 points, a level last observed during times of robust markets, as this rally brought it back to the 91,000-point mark.
“The current increasing trend indicates growing confidence in Pakistan’s economic recovery and is encouraging for investors. We might see more increases in the days ahead if this momentum continues,” a top financial analyst said.
It is anticipated that the interest rate will be lowered by two to 2.5 percent when the State Bank of Pakistan announces its new monetary policy today.
The governor of State Bank will preside over a meeting of the bank’s monetary policy committee in Karachi. The summit will assess the macro and microeconomic conditions of the nation as well as the global scenario.
In October, inflation is expected to hit 6.5%. Sources claim that domestic foreign exchange reserves are at their greatest level in 30 months and that the rupee is stable.
