KARACHI – The Pakistan Stock Exchange (PSX) kicked off the business week with massive gains owing to increasing confidence of investors amid economic reforms and dropping policy rate in the country.
The KSE-100 index reached its intraday high of 113,635.49 points after gaining 2284.32 points on Monday as compared to previous close of 111,351.17 points.
Experts have attributed the strong business activity in capital market to economic recovery, decreasing geopolitical tension and friendly monetary policies.
Meanwhile, PSX maintained its strong performance for the second consecutive year, registering a stunning growth of around 80 percent.
In 2024, the benchmark KSE-100 index surged by almost 80% as on December 28, when the market closed at 111,351 points.
During this year, the benchmark index also touched all-time high of 117,000 points level in intra-day trading, marking a remarkable achievement.
According to AKD Securities, macroeconomic reforms are the major factors behind the strong performance of PSX.
It said interest rates are likely to dip to single digits in financial year 2024-25, increasing the confidence of the investors.
