PSX reaches record high, nears 92,000 points

The KSE-100 Index rose by 1,022 points, reaching an all-time high of 91,881 points, breaking its previous intraday record of 91,872 points.

“The stock exchange’s performance today is a milestone and signals a robust outlook for investors,” noted a senior market analyst. “If economic indicators remain steady, we may see further upward momentum in the coming days.”

Earlier in the day, the PSX started the business week on a strong note, witnessing a significant bullish trend that saw the benchmark index rise by 786 points.

This surge restored the 91,000-point mark, bringing the KSE-100 Index to 91,645 points, a level last seen during strong market periods.

"The recent upward trend is a positive signal for investors and reflects growing confidence in Pakistan's economic recovery. If this momentum holds, we could see further gains in the coming days," noted a senior financial analyst.

Meanwhile, the State Bank of Pakistan is scheduled to announce the new monetary policy today as it is expected that the interest rate would be reduced by two to 2.5%.

A meeting of the Monetary Policy Committee of State Bank will be held in Karachi under the chairmanship of the bank's governor. In the meeting, the international situation, including the micro and macroeconomic situation of the country, will be reviewed.

Inflation has been predicted to reach 6.5% in October. According to sources, the rupee is stable and domestic foreign exchange reserves are at the highest level in 30 months.

SuchTV, 04 Nov, 2024 Visit to News Source Webpage

PSX reaches record high, nears 92,000 points

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