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The Pakistan Stock Exchange’s (PSX) KSE-100 index achieved an ‘all-time high’ on Friday, crossing the 53,000 barrier for the first time in about six and a half years. The index gained 526 points, reaching 53,243, marking a significant milestone in its history. Arif Habib Limited highlighted the achievement on social media, stating that the market had set a new era of financial excellence.
The bullish trend began as the market opened on Friday, with the PSX index gaining 587 points due to increased buying of shares by investors. This surge pushed the index past the psychological barrier of 53,000. The market’s remarkable performance was attributed to investor confidence and buying activities.
This positive momentum followed the announcement by the Election Commission of Pakistan (ECP) of February 11 as the election date. On the previous day, the PSX’s benchmark KSE-100 index had gained 314.13 points (0.6%) from the previous close, further contributing to the overall bullish trend.
The last time the PSX 100 index touched the figure of 53,127 was in May 2017. The recent surge reflects renewed investor optimism and confidence in the Pakistani financial market, setting new records and reaching unprecedented levels of success.
