“All-time high”: KSE-100 surpasses 69,000 as PSX reaches a new peak
Due to a number of variables, including stability in the economy, the Pakistan Stock Exchange (PSX) reached the 69,000 mark on Monday, marking a significant milestone.
The benchmark KSE-100 index closed at 69,619.98 points, up from the previous finish of 68,416.78 points, after gaining 1,203.20 points, or 1.76%.
Arif Habib Limited said on X, the previous Twitter, that the KSE-100 index had surpassed 69,000 and is currently trading at a record high.
The head of research at Pak-Kuwait Investment Company, Samiullah Tariq, credited the success to the country’s economic stability, prospects for a new International Monetary Fund (IMF) agreement, and Pakistan International Airlines’ (PIA) privatization.
Investor confidence increased as a result of “resuming the privatization process with those making losses as a priority so the government fiscals can get better,” according to Khurram Schehzad, CEO of the financial advice firm Alpha Beta Core.
“[This is] followed by IMF last tranche to be received in the coming week to support externals.”
With hopes for a strong showing in the next short trading week—which will last just two days before the prolonged Eid holidays—stocks closed the previous week on a bullish note.
Brokerage Arif Habib Ltd. stated, “We expect the market to remain positive in the upcoming week.” “Market sentiment will be further enhanced by developments pertaining to the privatization of state-owned enterprises (SOEs) or the IMF Extended Fund Facility program.”
The market gained 1,412 points, or 2.11%, over the previous week to end at 68,417 points.
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