The bullish trend continued in the Pakistan Stock Exchange (PSX) on Wednesday as the KSE-100 index breached the 72,000 mark for the first time in the bourse’s history.
Previously, in a landmark achievement, a record-breaking high was achieved as the PSX crossed 71,000 points on Monday.
During trading, the PSX gained more than 900 points owing to improved economic metrics. Overall investor confidence, sound financial results, positive economic indicators and a possible reduction in interest rate contributed to the bourse achieving a new high.
The buying of stocks by foreigners in the cement and banking sectors also played a role. Investor confidence is also buoyed due to positive talks with the International Monetary Fund (IMF).
Experts say that if the government increases taxes in the real estate sector, investors will turn to the stock market and this could lead to KSE-100 eventually crossing the 100k mark in 2025.
