Pakistan’s stock market closes above 75,000 mark for the first time

The Pakistan Stock Exchange’s (PSX) KSE-100 index achieved a historic milestone on Friday, closing above 75,000 points for the first time ever. This marked the seventh consecutive session of gains, reflecting a strong buying momentum in the market.

The trading session opened on a positive note, with bullish investors driving the market upward throughout the day. The KSE-100 Index ultimately settled at 75,342.35 points, an increase of 411.65 points or 0.55 per cent from the previous close.

Significant buying activity was observed across various sectors, including oil and gas exploration, fertilisers, refineries, pharmaceuticals, cement, and chemicals, contributing to the robust market performance.

The surge follows Thursday’s session, where the index gained 267 points to close just shy of the 75,000 mark, fueled by positive market sentiments.

Market experts attribute this unprecedented rise to several favorable factors. These include the commencement of discussions with the International Monetary Fund (IMF) for a new loan programme and anticipations of a potential interest rate cut in the upcoming monetary policy meeting.

Such developments have bolstered investor confidence, leading to increased market activity and record-high levels at the PSX.