The Pakistan Stock Exchange (PSX) hit a historic milestone on Thursday, surpassing the 82,000-point mark for the first time.
This surge is driven by positive economic indicators, including a potential deal with the IMF, reduced interest rates, and a surplus in the current account, all boosting investor confidence.
The KSE-100 Index saw a remarkable gain of 1,539 points, closing at 82,000 points, surpassing its previous high of 81,939 points recorded in July.
Earlier in the day, the index surged by 1,202 points, reaching 81,663 points, marking a significant recovery after two months of trading below 80,000 points.
This bullish trend is linked to the government’s progress in securing an IMF loan, which, along with declining interest rates, has encouraged investments in the stock market. Additionally, the economy’s recent boost, with the current account posting a $75 million surplus in August, further fueled market optimism.
Analysts highlight that remittances from overseas Pakistanis played a crucial role in this economic turnaround, leading to a more stable outlook for the country’s financial future.