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Reading: Pakistan Stock Exchange Breaks 100,000 Milestone Amid Market Resilience
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PSX Market Surge
PhotoNews Pakistan > Business > Pakistan Stock Exchange Breaks 100,000 Milestone Amid Market Resilience
BusinessTop News

Pakistan Stock Exchange Breaks 100,000 Milestone Amid Market Resilience

Web Desk
By Web Desk Published November 28, 2024 2 Min Read
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Pakistan Stock Exchange achieve a milestone. Photo Credits: @I_MrymSays (X)
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Shares at the Pakistan Stock Exchange soared, surpassing the 900-point mark to reach an unprecedented milestone of 100,000 on Thursday.

At 9:35 AM, the benchmark KSE-100 index had climbed by 947.32 points, a 0.95 per cent increase, to 100,216.57 points from its previous close of 99,269.25 points.

Congratulations
Pakistan Stock Exchange PSX index reached a massive historic milestone of 100 K 👏👏👏👏👏 pic.twitter.com/nP3thQGg8L

— Kamran Khan (@AajKamranKhan) November 28, 2024

This record achievement occurred just two days after the PSX experienced temporary instability due to political tensions. It rebounded significantly the following day, marking the highest single-day gain on Wednesday.

Read: PSX Surges 3.96%: Political Ease and Banking Reforms Propel Stocks

Mohammed Sohail, chief executive of Topline Securities, remarked, “An impressive 150 per cent return from 40k to 100k in merely 17 months!”

Historic milestone for #PSX!

The Pakistan Stock Exchange crossed the 100,000-point mark, hitting 100,346.50 in intra-day trade.#Experts credit the surge to reforms and stability post-PTI protest withdrawal.#SamaaTV pic.twitter.com/uBSX0ENrKl

— SAMAA TV (@SAMAATV) November 28, 2024

He emphasized the role of a new IMF (International Monetary Fund) loan and the impact of fiscal and monetary discipline in bolstering investor confidence. He also noted the rapid decline in inflation and interest rates, which have infused additional liquidity into the stock market.

Despite this surge, Sohail pointed out that the market’s price-to-earnings ratio remains at 5x, below the average of 7x.

Reflecting on the market’s growth, Sohail said, “From less than 1,000 points in the late 1990s to 100,000 today, the market has increased a hundredfold.” He described this as the result of “25 years of fluctuations, bull and bear markets, and shifting sentiments.”

He added, “Despite numerous challenges, the market has delivered a 20 per cent annual return in rupees and a 13 per cent annual return in U.S. dollars over the past 25 years,” underscoring the market’s resilience and potential.

TAGGED:FeaturedPakistan Stock Exchange
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