In a first, KSE-100 Index surpasses 94,000 points

The Pakistan Stock Exchange (PSX) has gained over 700 points to hit an all-time high after the market avoided nascent calls for a technical correction here on Monday.

The KSE-100 index soared by 729 points to surpass 94,020 points during intra-day trading, up from the previous close of 93,291.68 points.

In addition,  the market experts credited the recent upward momentum to a series of favourable macroeconomic factors, including the central bank’s unprecedented 250 basis points cut in the policy rate, bringing it down to 15 per cent.

Also, remittances reached $3.1 billion in last month, offering further support to the economy.

In the latest quarterly review, additionally, Pakistan’s representation in the MSCI index increased to 4.4 per cent, positioning the country as the second-most liquid market in the MSCI Frontier Markets.