PSX welcomes New Year as KSE-100 hits historic high
Business
The KSE-100 Index gained 1325.21 points to cross 116k level
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) registered significant gains to reach an all-time high on the first day of the New Year as economic reforms being undertaken by the government have increased the confidence of investors.
The KSE-100 Index hit intraday high of 117,341.03 points after gaining 2,214.13 points compared to previous close of 115,126.90 points.
The positive sentiments come a day after Prime Minister Shehbaz Sharif inaugurated ‘Uraan Pakistan’ – a five-year national economic plan aimed at achieving sustainable development and economic stability.
Addressing the gathering, PM Shehbaz highlighted that the programme would provide a roadmap for economic progress, focusing on digital economy, energy, infrastructure, environment, and job creation.
He credited efforts for stabilising the economy despite significant challenges, with inflation dropping to five percent and IT exports increasing by 34 percent.
A day earlier, the 100 Index shed 132.09 points on Tuesday, a slight negative change of 0.11 percent, closing at 115,126.90 points compared to 115,259.00 points on the previous trading day.
