The Pakistan Stock Exchange (PSX) recently marked a historic milestone with the KSE-100 index reaching an unprecedented intra-day high of 64,038.83 points. This remarkable surge was fueled by a confluence of factors fostering investor confidence. An optimistic economic outlook, coupled with the anticipation of a current account surplus in November 2023, provided a strong foundation for market enthusiasm.
Key sectors like technology, exploration and production (E&P), and banking experienced robust buying activity, reflecting a diversified and bullish market sentiment. A notable reduction in external debt and positive indicators in the financial landscape contributed to this buoyancy. The market closed near the 64,000 mark, settling at 63,917.72 points.
Crucial to this upward trajectory were improved dollar inflows and the stability of the Pakistani rupee, factors that underscored the resilience of the country’s economic fundamentals. Foreign investors, recognizing the potential for growth, demonstrated confidence by being net buyers of shares amounting to Rs634.2 million. This record high not only signifies the current strength of the Pakistani stock market but also showcases the nation’s attractiveness to both domestic and international investors.
