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In a significant development, the Pakistan Stock Exchange (PSX) experienced a record-breaking day on Friday, with an increase of over 400 points, pushing it past the 53,000-point milestone. This achievement is primarily attributed to the positive outlook regarding a successful International Monetary Fund (IMF) review.
As of the latest available data, the market is currently at 53,111.30 points, reflecting a gain of 454.54 points, equivalent to 0.86%. This momentous occasion marks the first time the KSE-100 index has crossed the 53,000 threshold.
Read more : The PSX Maintains Its Position At 49,000 To Close The Week
Arif Habib Limited, shared on X (formerly Twitter), expressed that the market’s performance has reached unprecedented heights, breaking previous records and ushering in a new era of financial success.
According to capital market expert Saad Ali, the market’s momentum can be attributed to reduced political risks, positive macroeconomic indicators, the expectation of a favorable IMF review, and the anticipation of forthcoming interest rate reductions. Despite these positive factors, he highlights that the market’s valuation remains relatively low, with a forward earnings multiple of only 4x, considering historical standards.
Samiullah Tariq, Head of Research for Pakistan-Kuwait, explained that robust earnings, the outlook for a successful IMF review, and the potential for declining interest rates in the future are the primary drivers of the market’s growth.
Back in October, the KSE-100 index had already gained recognition as the world’s third-best performing market, reaching a six-year high at 51,920 points.
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