The Pakistan Stock Exchange (PSX) made history as the KSE-100 index crossed 120,000 points for the first time during intraday trading. The index went up by 1,729.48 points, or 1.45%, reaching 120,667.59. This marked a major milestone for Pakistan’s stock market and showed strong investor confidence.
This rise came shortly after Prime Minister Shehbaz Sharif announced a 15% cut in electricity tariffs. The decision is expected to benefit around 40.3 million consumers across the country.
The aim of the tariff cut is to reduce the financial burden on households and encourage more electricity usage, especially during the summer months. This move is seen as a positive step by the government to support the public and the economy.
Investors responded positively to the announcement, pushing the market upwards. More than 60 million shares were traded, with a total trading value of Rs. 5.12 billion. The strong activity reflects growing optimism in the market and belief in the government’s economic policies.
This growth happened despite some international challenges. The United States recently imposed a 29% tariff on Pakistani exports due to trade imbalances. While this could affect exports, the local market stayed strong and continued to grow.
Market experts believe that a combination of government decisions, improved investor confidence, and strong trading volumes have all contributed to this surge. They also suggest that if the economic reforms continue and inflation is controlled, the market could maintain its positive momentum in the coming weeks.
