The Pakistan Stock Exchange exhibited a rising trend as the PSX-100 index reclaimed the important level of 79,000 on Tuesday.
PSX-100 index went up 550 points to 79375 points.
After a year of growth and better success, the Pakistan Stock Exchange (PSX) has gotten a lot bigger.
Tracking the top 100 companies on the exchange, the KSE-100 Index, has grown by over 60% in 2023, making it the best-performing border market in Asia.
The success was noted because of better macroeconomic conditions, an agreement to borrow money from the International Monetary Fund (IMF), and a “increase” in investor confidence.
The rise has been greatly helped by the IMF’s $3 billion loan package.
In response to the fiscal and balance-of-payments problems, the government has made changes that have led to more funding from the World Bank and the Asian Development Bank. Companies’ profits have gone up thanks to these steps, especially in the banks, cement, and energy industries.
Based on things like the upcoming general election and the possibility of more IMF help, analysts think the market could hit new highs of between 75,000 and 81,000 points by the end of the year.
