KARACHI: The Pakistan Stock Exchange (PSX) soared to unprecedented heights on Thursday, setting a new historic milestone as it reached 68,362.35 points around 9:30 am local time.
As the trading day progressed, the index continued its upward trajectory, closing at a remarkable 68,416.78 points, marking a gain of 660.75 points collected throughout the day.
The day began with a surge from yesterday’s closing figure of 67,756.03 points, quickly escalating nearly 500 points within the first 15 minutes of trading. Subsequently, the benchmark KSE-100 index stabilised, maintaining levels above 68,000 points through the morning hours.
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In a final flourish, the PSX index surged once more before the close, ending the day on a high note. Yesterday’s surge of 870 points was surpassed by today’s gains of 660 points, highlighting the robust performance of the Pakistani equities market.
This impressive growth is underpinned by several factors, including strong corporate earnings, positive economic indicators, and buoyant investor sentiment. Analysts have also pointed to expectations of an interest rate decline by the State Bank of Pakistan (SBP) as a contributing factor to the market’s upward trajectory.
