Pakistan Stock Exchange (PSX) Hits Historic 77,000 Points Mark!

• The Pakistan Stock Exchange (PSX) reached a historic milestone.
• The KSE-100 index surged by 814.64 points, hitting 77,022 points.
• Notable gainers included PRL, PSO, SNGPL, and OGDCL.

The Pakistan Stock Exchange (PSX) achieved a significant milestone on Friday, reaching over 77,000 points for the first time in its history. This milestone was reached during the last session of the business week, marking a momentous occasion for investors and the financial market.

As of 3:10 pm, the KSE-100 index surged by 814.64 points, reaching an impressive 77,022 points, with trading activities still ongoing. The index peaked at 77,310 points, reflecting the strong momentum in the market.

Significant buying activity was observed in sectors such as commercial banks, fertilizer, and oil and gas exploration companies. Notable gainers included PRL, PSO, SNGPL, and OGDCL, contributing to the overall market performance.

The market's positive response can be attributed to the recent unveiling of the federal budget for the fiscal year 2024–25. The budget proposed an increase in taxes on the salaried class, which has influenced investor sentiment and contributed to the ongoing buying spree in the stock market.

[embedpost slug="/more-rain-predicted-in-rawalpindi-islamabad-parts-of-pakistan/"]

Investors and analysts are optimistic about the market's performance, with confidence bolstered by the government's fiscal measures outlined in the budget. This positive momentum reflects a renewed sense of optimism and stability in the financial landscape, driving the PSX to new heights.