Friday, May 24, 2024

Pakistan Stock Exchange Hits Record High, Crosses 74,000 Mark

On Monday, the bulls took charge at the Pakistan Stock Exchange (PSX), pushing the market to a new high of over 74,000 points. The KSE-100 index, which is like a big scoreboard for the stock market, jumped to 74,086.54 points. That’s a big increase of 1,001.04 points or 1.37% from the last time it closed at 73,085.50 points.

Raza Jafri, who is the CEO of EFG Hermes Pakistan, said that investors are feeling more confident lately. They’re hopeful about some big announcement about money stuff that’s supposed to happen on June 10. People think maybe interest rates will go down, which could be good for business.

Also, people are feeling pretty good about the Pakistani money, the rupee. Because of that, more investors are interested in buying shares of companies that maybe weren’t doing so great before. Like companies that make cement, steel, and medicine. These companies are helping to keep the stock market going up, according to the expert.

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