First Time in History! Pakistan Stock Exchange Crosses 84,000 Mark – Startup Pakistan

The Pakistan Stock Exchange (PSX) reached a new all-time high, with the KSE-100 index surpassing 84,000 points for the first time, settling at 84,116 points. This historic achievement marks a significant milestone for the country’s stock market.

On Monday, the market opened on a positive note, initially gaining 197 points. This upward momentum continued throughout the day as investor confidence remained strong. The rise in the KSE-100 index can be attributed to positive investor sentiment and renewed interest in key sectors, particularly banking and oil & gas, which have seen increased buying activity.

The strong market performance comes on the heels of a successful previous week, where the KSE-100 index closed at a record 83,531.96 points. Contributing to this surge were factors such as the increase in Pakistan’s foreign exchange reserves, which have now exceeded $10 billion, as reported by the State Bank of Pakistan. This development has been a key factor in boosting overall market sentiment.

Additionally, the Pakistani rupee showed improvement, appreciating against the U.S. dollar, further strengthening investor confidence. This combination of rising stock market performance, higher reserves, and a stronger currency paints a positive outlook for the economic environment, encouraging more investment in the market.