The KSE-100 index benchmark closed at 80,233 points with an increase of 680 points on Wednesday with a record 530. 43 million shares worth Rs22.65 billion were traded in the market.
The Pakistan Stock Exchange (PSX) has reached an all-time high, crossing the historical limit of 80,000 points. This achievement marks a new record in the financial markets of Pakistan.
Throughout the trading day, the PSX exhibited robust performance, with the KSE-100 Index showing substantial gains across various sessions:
First Session: The KSE-100 Index surged by 447 points, initially crossing the 80,000-point threshold, setting a strong tone for the rest of the day.
Second Session: The momentum continued as the Index further increased by 760 points, reaching 80,313 points, pushing the market to new heights and demonstrating sustained investor confidence.
Also Read: Pakistan, IMF near agreement on $8 billion bailout package
Noon Session: The PSX reached new heights by noon, with the KSE-100 Index gaining an additional 848 points, culminating at 80,401 points. This significant increase underscores the market's bullish trend and the overall positive sentiment among traders.
This record achievement comes in the wake of Pakistan and the International Monetary Fund (IMF) advancing towards a crucial agreement on a new bailout package, anticipated to be finalized this month.
Officials from the Ministry of Finance have indicated significant progress in negotiations, highlighting the government’s commitment to implementing reforms outlined in the new budget.
Minister of State for Finance, Ali Pervez Malik, expressed optimism about reaching an agreement with the IMF by July. The proposed three-year bailout package is expected to provide Pakistan with between $6 to $8 billion, aimed at bolstering the country’s economic stability.
