PSX hits record high amid positive economic trends, surpasses 82,000 points

The Pakistan Stock Exchange (PSX) reached an unprecedented milestone on Thursday noon, crossing the 82,000-point mark for the first time in history.

This surge comes on the back of positive economic developments, including an expected IMF deal at the end of the month, a reduction in interest rates, and a current account surplus, all of which have bolstered investor confidence.

The market recorded a strong bullish sentiment, breaking its previous record set earlier this year on July 18, when the KSE-100 Index peaked at 81,939 points. During today’s trading session, the index skyrocketed by 1,539 points, reaching a historic high of 82,000 points.

Analysts attribute this record-breaking performance to a combination of favourable economic indicators, including the government’s negotiations with the IMF for a loan programme aimed at stabilizing the economy. Additionally, the reduction in interest rates has encouraged investment in equities, further driving the market’s upward momentum.

Earlier in the day, the PSX witnessed a significant upward trend, with the benchmark index crossing the 81,000-point mark for the first time in over two months. The market opened with a strong bullish sentiment, driven by investor confidence, and continued to gain momentum throughout the trading session.

As of midday trading, the KSE-100 Index had surged by 1,202 points, reaching 81,663 points. This marks a notable recovery for the market, which had been hovering below the 80,000-point threshold for the past two months and 10 days.