PSX breaks records, surpassing 138,000 points
On Thursday, the Pakistan Stock Exchange (PSX) reached a significant milestone as the benchmark index exceeded 138,000 points during intraday trading for the first time, indicating sustained investor confidence and market momentum.
The KSE-100 gained 1,662.03 points to reach another high of 138,041.99 points, marking an increase of 1.22 percent, as trading is underway.
Throughout the session, the index declined to a minimum of 136,674.98 points, accompanied by a trading volume exceeding 142 million shares.
This significant increase demonstrates robust investor confidence, enhanced economic metrics, and positive expectations regarding essential policy initiatives.
The development followed Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb’s briefing to Moody’s regarding Pakistan’s stabilizing economy, reform initiatives, and re-engagement with the global market.
During the session, the finance minister informed the Moody’s team of the substantial progress Pakistan has achieved in stabilizing its economy and establishing the groundwork for sustainable and inclusive growth.
Additionally, refer to: Oil prices increase as demand optimism and economic indicators enhance sentiment.
He emphasized the successful conclusion of the final IMF review under the Stand-By Arrangement, which included the disbursement of the second tranche and advancements under the Resilience and Sustainability Facility (RSF), as pivotal milestones that have reinstated confidence in Pakistan’s economic governance.
The minister emphasized a range of structural reforms implemented by the government to establish long-term stability.
The measures encompassed judicious fiscal policies in the newly revealed budget, tariff and trade liberalization aimed at export-driven growth, and coordinated initiatives to streamline expenditure.
The current negotiations with the United States regarding preferential tariff access are progressing positively.
Aurangzeb responded to inquiries from the Moody’s team and reaffirmed Pakistan’s dedication to maintaining its trajectory on macroeconomic reforms, encompassing privatization, restructuring of state-owned enterprises (SOEs), and optimizing government size.
Senator Muhammad Aurangzeb expressed optimism that the improving macroeconomic indicators and reform momentum would be favorably recognized by rating agencies, thereby enhancing Pakistan’s position to access international markets and bolster its external sector stability.
