Thursday, July 25, 2024

First Time Ever! Pakistan Stock Exchange Crosses Historic 80,000 Mark

On Friday, the Pakistan Stock Exchange (PSX) reached a major milestone by breaking past the historic 80,000-point mark during intraday trading. This significant achievement saw the benchmark KSE-100 index reaching a peak of 80,001 points. This was a noticeable rise from the previous day’s close of 78,801 points.

Around 9:50 AM, the index had jumped by 1,199 points, fueled by optimism about potential agreements between the government and the International Monetary Fund (IMF) following the new budget announcement.

Analysts are hopeful that the upcoming budget for the next fiscal year will include ambitious financial goals. These targets are expected to enhance the chances of securing a new bailout deal from the IMF.

The trading day was marked by high activity, with a total of 452.6 million shares being exchanged. The total value of the traded shares reached Rs. 20.675 billion. This level of trading indicates strong investor confidence and a positive outlook for the market.

This surge in the KSE-100 index reflects the positive sentiment among investors regarding Pakistan’s economic future. The anticipation of favorable budget announcements and the possibility of new agreements with the IMF have played a significant role in boosting market confidence.

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