KARACHI: In a surge of optimism, bulls stampeded onto the trading floor of the Pakistan Stock Exchange (PSX) on Wednesday, propelling shares to reach unprecedented heights. The benchmark KSE-100 index soared by a remarkable 900 points, breaching the coveted 72,000 level for the first time in the exchange’s history.
The bullish rally saw the KSE-100 index recording a substantial gain of 854.19 points, marking a significant 1.2 per cent increase from the previous day’s close. The index stood tall at 72,213.59 points by 10:33 AM, showcasing the robust confidence of investors in the market.
This surge in the KSE-100 index comes on the heels of its recent breakthrough past the 71,000 level earlier in the week. The consecutive rise in stock prices is a reflection of the growing positive sentiment prevailing among investors, who seem buoyed by the resilience of the Pakistani economy and the potential for future growth.
Market analysts attribute this bullish momentum to several factors, including favourable economic indicators, increased investor confidence, and the anticipation of progressive government policies. Furthermore, the stable political landscape and ongoing efforts to bolster regulatory frameworks have also contributed to the upbeat market sentiment.
The remarkable ascent of the PSX reflects a broader trend of optimism within the Pakistani financial markets, signalling a promising outlook for both domestic and international investors. As the bull run continues to gather momentum, stakeholders are closely monitoring the developments, anticipating further milestones in the days to come.