The Pakistani economy has received a boost ahead of the upcoming meeting of the International Monetary Fund (IMF) Executive Board, as international organisation Bloomberg recognized the Pakistan Stock Exchange (PSX) as the best market in the world for 2024.
This acknowledgment comes at a time when foreign investment in the stock market has surged significantly.
According to the global news organization, the KSE-100 Index of the Pakistan Stock Exchange closed with the highest levels of foreign purchases recorded in a decade. In 2024 alone, foreign investors have bought shares worth an impressive $8.7 million, highlighting a positive trend in both foreign investments and economic indicators within the PSX.
The Pakistan Stock Exchange KSE-100 Index is witnessing a surge. With the IMF's Executive Board scheduled to meet next week to discuss a new bailout package of $7 billion for Pakistan, expectations are high for an increase in dollar inflows into the country.
Analysts anticipate that the approval of the IMF program will further stimulate trading activity on the stock exchange, enhancing investor confidence and contributing to market growth.
Also Read: PSX achieves historic milestone, crosses 82,000-point threshold
On Friday, the Pakistan Stock Exchange (PSX) achieved a historic milestone by reaching the highest level ever recorded in a remarkable turnaround, surpassing the significant threshold of 82,000 points. The KSE-100 Index surged by 666 points, ultimately closing at an impressive 82,125 points.
After experiencing periods of volatility, the PSX regained its momentum, showcasing a remarkable recovery in investor confidence. This upward trend continued after as the index had risen by 801 points, peaking at 82,261 points at one point during the day.
Before this, the KSE-100 Index rose 635 points to 82,094 points. Despite fluctuations throughout the trading sessions, including a brief dip where the index fell 50 points to 81,409 points at the start of trading on Friday, the overall performance indicated a robust market sentiment.
