KARACHI: The Pakistan Stock Exchange (PSX) reached a significant milestone on Wednesday, surpassing the 75,000 mark in the early trading hours.
The benchmark KSE-100 index peaked at 75,115.32 during intraday trading at 10:11 am before retreating slightly below 74,000. This surge followed the previous day’s closure at 74,531.19 points.
According to Samiullah Tariq, head of research at Pak-Kuwait Investment Company, the market’s positive response stemmed from optimism surrounding a new International Monetary Fund (IMF) program.
Tariq also noted that expectations of an interest rate reduction in the upcoming monetary policy, fueled by declining inflation, further buoyed market sentiment.
The day before, stocks had reached an all-time high, propelled by investor confidence in fruitful negotiations with the IMF for a new loan program. Tuesday’s trading session concluded with the PSX gaining 732.08 points or 0.99%, closing at 74,531.19 points.
