Islamabad, Oct 25: Pakistan stock exchange Makes History as It Crosses 90,000 Mark, Setting a New All-Time High
Compared to the previous closing of 89,373.82 points, the benchmark KSE-100 index increased 1142 points to reach an all-time high of 90,087.41 points.
With a 125 percent increase in just 18 months, this is among the highest rises ever seen by stocks on the main exchange.
Even though the day is still early, at the time of filing, 163,785,619 shares were trading on the exchange, with a share price of Rs. 8.485 billion.
Of the 380 firms that traded their shares on the stock exchange, 228 saw profits and 131 saw losses, while the share prices of 21 companies stayed the same.
Sui Southern Gas Company Limited (PSX: SSGC), with 23.2 million shares, K-Electric Limited (PSX: KEL), with 15.4 million shares, and Fauji Foods Limited (FFL), with 8.66 million shares, were the top three trading companies.
A number of important variables have contributed to the increase of PSX. First off, positive government policies have improved investor confidence and stimulated cross-sector investment. A favorable environment for market expansion has been established by the government’s emphasis on infrastructure improvements, economic reforms, and industry incentives.
Furthermore, the State Bank of Pakistan’s recent actions to regulate inflation and stabilize the exchange rate have been crucial. Investors find lower inflation rates and more stable currencies appealing, which lowers the risks related to exchange rate volatility.
In addition, PSX’s ability to cross 90,000 points is partly due to increased participation from foreign institutional investors (FIIs). With the market showing resilience, foreign funds have begun entering Pakistan’s capital market, contributing to the bullish trend. Furthermore, several companies listed on the PSX reported solid earnings, which fueled buying interest among investors. These earnings reports, coupled with positive forecasts, have instilled greater confidence in the market’s potential for sustained growth.
