PSX 100-index becnhmark hits new all-time high
23 October, 2024 16:00
Bulls return to PSX as Trump pauses tariffs for 90 days
Pakistan Stock Exchange have breached the psychological barrier of 87,000 points to touch a new historic high on Wednesday.
The development came mainly due to an optimism that the national economy is on the right track as supported by strong data and International Monetary Fund (IMF) projections for the fiscal year 2024-25.
The KSE-100 Index jumped to 87,128.04 points in early trading, up from the previous close of 86,466 points.
Heavy buying was registered in blue chips from automobile assemblers, chemicals, cement, commercial banks, oil marketing companies, oil and gas exploration companies, and refineries, saw bullish trend.
The first quarter corporate earnings season is unveiling with predictions of strapping payouts/dividends and bullish investors are entering the right sectors.
The capital market is riding a bullish wave after the passage of the 26th Amendment.
The International Monetary Fund (IMF) has projected a 3.2 per cent GDP growth rate for the fiscal year 2025. The inflationary pressures have declined. The national economy is expected to experience a boost. This growth is anticipated to leave a positive impact on the unemployment rate.
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