Today, the Pakistan Stock Exchange (PSX) soared to new heights, crossing the significant 81,000-point mark driven by positive investor sentiment following a recent staff-level agreement with the International Monetary Fund (IMF).
The KSE-100 Index, a crucial barometer of market performance, surged by an impressive 1,248.82 points in a single day, marking a substantial 1.56% increase.
Investor confidence was buoyed further by the government’s recent budget announcement, which refrained from introducing new taxes on the capital market. This strategic move has been interpreted favorably, as it aims to stimulate investments and sustain the bullish momentum in the stock market.
Despite grappling with various economic challenges, the PSX achieved an unprecedented milestone, largely supported by a $3-billion loan secured earlier under the IMF’s Stand-By Arrangement (SBA). This financial boost has instilled much-needed stability and confidence, contributing significantly to the upward trajectory of the stock market.