Karachi: The Pakistan Stock Exchange witnessed a rapid surge of 814 points, resulting in the country’s historic stock index, the KSE-100, surpassing the 60,500 points mark for the first time and reaching a new peak at 60,626 points.
On Monday, the Pakistani stock market continued its upward momentum, propelled by investment inflows from Gulf countries amounting to billions of dollars. This led to the breaking of all previous records, marking the first time the index reached the new milestone of 60,000 points.
The market rally was fueled by a 63% increase in share prices, resulting in a total market capitalization gain of 100 billion rupees. Strong fundamentals and active buying of shares based on solid corporate foundations have contributed to the upward trajectory of the market graph.
Experts predict that with a robust growth of 30% by December 2024, the index is expected to reach the 75,000 points level, providing positive momentum for the market.
Investors’ morale is on the rise as news of a 1.5 billion dollar financing deal from multilateral donors circulates, further boosting the market graph. This influx of funds is playing a significant role in driving the market towards new heights.
