In a historic achievement, the Pakistan Stock Exchange (PSX) crossed the unprecedented 100,000-point mark on Thursday, marking a day of celebration for investors and stakeholders.
The benchmark KSE-100 Index surged by 813 points, closing at a record high of 100,082 points, as the market experienced a day-long rally fueled by strong investor confidence.
Sindh Governor Kamran Tessori visited the PSX to commemorate the milestone, congratulating investors and highlighting the potential for regional investment. "Neighbouring countries are keen to invest in Pakistan, and today’s achievement is a testament to our economic resilience," he stated.
The Pakistan Stock Brokers Association celebrated the occasion by cutting a cake in the trading hall, symbolizing the optimism surrounding the market’s historic performance.
Farrukh Sabzwari, chief executive of the Pakistan Stock Exchange, expressed confidence in the market's trajectory. “The PSX will continue to break records in the future, and we will celebrate each milestone,” he said.
Stockbrokers attributed the market's stellar performance to the recent interest rate cuts, which have led to a shift in investments from fixed income to equities. The PSX also witnessed a massive turnover of 1.16 billion shares, valued at Rs40 billion.
The market’s journey from 40,000 to 100,000 points was completed in just 17 months, reflecting a remarkable 150% growth during this period. This performance has earned the PSX the title of the world’s second-best performing stock market.
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