The benchmark Hundred Index of the Pakistan Stock Exchange (PSX) has surpassed 96,000 points, creating a new all-time high, marking a historic milestone. The index saw an incredible 855-point spike, closing at 96,711 points, the highest level ever seen in the history of the market.

The index increased by 765 points earlier in the day to reach 96,622 points, and then by an additional 488 points to trade at 96,344 points. Good economic conditions and high investor confidence are reflected in the steady rising trend.

Analysts credit the market’s outstanding success to rising foreign investment, better investor sentiment, and economic advancements. The PSX is now among the best-performing markets in the area because to its consistent growth.

With more increases anticipated in the days ahead, the PSX’s bullish momentum demonstrates the financial sector’s resiliency.

In these districts, the proprietors of wheat mills have increased the price of an 80kg bag by Rs1300, according to the facts.

Separately, the Naan Bai Association has instituted an emergency meeting to discuss the bread (roti) tariff.

Prior to this, the federal government successfully negotiated with the owners of the wheat mills and eliminated a 5.5% advance income tax.

Before this, the government announced and staged a walkout against the advance income tax imposed in the budget 2024–2025, and the government established a committee to negotiate with the flour mills association.

READ: In Karachi, the cost of flour reaches Rs2,200 for 20 kg

As a result of the successful conclusion of the negotiations, the government abolished the levy, and the mill owners subsequently called off their strike.

The proprietors of the flour mills went on strike for three days, which is relevant to our discussion since it caused a shortage of flour, especially in Karachi.

On July 11, the flour mill owners declared and staged a walkout in protest of the tax imposed in the 2024–2025 budget.

According to the flour mill owners, they are already having trouble operating their business because of rising electricity costs.

Following positive remarks made by the International Monetary Fund (IMF) team during its just-completed visit, the Pakistan Stock Exchange (PSX) continued to see bulls’ rise.

The benchmark KSE-100 index gained 813.04 points on Tuesday and was currently trading at 95,808.71 points.

Increased purchasing was observed in a number of industries, including power generation, cement, commercial banks, oil and gas exploration firms, OMCs, and pharmaceuticals.

HUBCO, PSO, SBGPL, MARI, OGDC, PPL, MEBL, and MCB were among the index-heavy stocks that saw a financial bonanza.

A number of variables are thought to be responsible for the market’s ongoing bullish momentum, chief among them being Finance Minister Muhammad Aurangzeb’s refutation of press reports about the potential for a mini-budget.

Investor confidence was also bolstered by an increase in Pakistan’s foreign exchange reserves.

The benchmark KSE-100 index finished Monday at 94,995 points, so keep that in mind.