Pakistan Stock Exchange Sets 8 Record Highs in a Single Trading Week
Karachi: The Pakistan Stock Exchange (PSX) achieved a historic milestone last week, setting 8 record highs in a single trading week. This marks the first time in the exchange’s history that such a feat has been accomplished in just five trading sessions.
The surge in market activity was driven by expectations of a significant cut in interest rates, rising exports, and a reduction in the trade deficit. These positive developments led to a record-breaking performance on the PSX, surpassing previous highs in all major indices.
During the week, the benchmark KSE-100 Index crossed key psychological levels for the first time, reaching 102,000, 103,000, 104,000, 105,000, 106,000, 107,000, 108,000, and 109,000 points. The index closed at a historic high of 109,053.95 points, up by 7,516.63 points, setting a new record.
Investor confidence was also bolstered by the government’s monetary policy measures, foreign inflows, and a positive economic outlook. Pakistan’s foreign exchange reserves exceeding $12 billion further added to the optimism surrounding the market.
As a result, the total market capitalization saw a substantial rise, growing by PKR 970 billion, reaching PKR 13.855 trillion. The KSE-30 Index and the KMI-30 Index also saw impressive gains, closing at 33,849.09 and 164,257.53 points, respectively.
This record-breaking week was a testament to the positive market sentiment and investor confidence, making December the best performing month following a strong November performance. The PSX’s record-breaking rally signals strong growth prospects for Pakistan’s financial markets in the near future.