The Pakistan Stock Exchange (PSX) reached a historic milestone on Thursday, surpassing the 100,000-point mark for the first time in its history. During intra-day trading, the KSE-100 Index surged by 1.09%, gaining 1,077.25 points to hit 100,346.50 points, up from the previous close of 99,269.25 points.
This remarkable rally comes after a period of market volatility, which saw the PSX plummet by more than 3,500 points earlier in the week due to political unrest, including violent clashes during the PTI's march on Islamabad. However, the market quickly recovered, jumping more than 4,600 points after PTI called off its protest, following a government crackdown on demonstrators.
Experts attributed the PSX’s record-breaking performance to several factors, chief among them the government's strong commitment to economic reforms and adherence to the International Monetary Fund's (IMF) program. These measures have bolstered investor confidence and driven the market's upward momentum.
Prime Minister Shehbaz Sharif congratulated the nation on the stock exchange's achievement, noting that the rise reflects growing confidence in the government’s policies. He praised the economic team for their efforts in fostering investment and stability and highlighted the government’s sacrifices to prevent an economic collapse.
The prime minister also pointed to improvements in inflation rates, a stable 15% interest rate, and record remittances as key indicators of progress. He stressed the removal of political disruptions, particularly those caused by the PTI, as a contributing factor to the market’s recovery, and reaffirmed the government’s commitment to Pakistan’s economic development, vowing to prevent any attempts to destabilize the nation.