The Pakistan Stock Exchange (PSX) made history this week by crossing the 170,000-point mark for the first time ever.
Strong investor sentiment was fueled by key developments, including the completion of the IMF installment, commencement of circular debt repayments, and a $1.25 billion U.S. investment in Reko Diq.
The PSX’s benchmark KSE-100 Index rose 1.7% over five trading sessions, adding 2,780 points to close at 169,864 points. The index touched a weekly high of 170,697 points and a low of 167,386 points, marking a significant milestone in the market’s history.
Trading activity
A total of 5.27 billion shares were traded this week, valued at Rs 248 billion. The market capitalization increased by Rs 282 billion, reaching a new weekly high of Rs 19,321 billion.
Key drivers behind surge
-
IMF Installment Completion: The release of funds bolstered investor confidence and strengthened the market outlook.
-
Circular Debt Repayments: Initiation of payments under the circular debt plan helped ease financial pressures on major energy and utility companies.
-
Reko Diq Investment: Approval of a $1.25 billion U.S. investment in the Reko Diq mining project drew strong foreign investor interest, further boosting market sentiment.
Analysts suggest that continued macroeconomic stability, foreign investments, and government financial reforms could sustain positive momentum in the PSX.
