The Pakistan Stock Exchange (PSX) hit a new record high, surpassing the 70,000 mark, driven by positive factors including a 16.4% year-on-year increase in remittances and Saudi Arabia’s commitment to invest $5 billion in Pakistan’s economy. The KSE-100 index opened at 69,857.14 points and quickly rose above 70,000 points, reaching an intra-day high of 70,677.29 points. Investors were also optimistic about upcoming IMF loan talks and a potential reduction in the policy rate by the State Bank of Pakistan. The market closed with a significant gain of 694.73 points, settling at 70,314.72.
The Pakistan Stock Exchange (PSX) achieved a new milestone by surpassing the 70,000 mark, fueled by positive news including a 16.4% increase in remittances and Saudi Arabia’s commitment to invest $5 billion in the economy. Starting at 69,857.14 points, the KSE-100 index quickly rose above 70,000, hitting an intra-day high of 70,677.29 points. Investor optimism was also driven by upcoming IMF loan talks and a potential policy rate cut by the State Bank of Pakistan. The market closed with a significant gain of 694.73 points, settling at 70,314.72.
