On Thursday, the Pakistan Stock Exchange (PSX) made history by surpassing the 100,000-point mark for the first time. The market opened at 9:30 AM, with bullish momentum continuing from the previous day’s gains. The KSE-100 index surged by 790 points, or 0.8 percent, reaching 100,059 points, from the previous close of 99,269.
This remarkable achievement was driven by a combination of factors, including a new IMF loan and improved fiscal and monetary discipline, which have bolstered investor confidence. Additionally, a faster-than-expected decline in inflation and interest rates has increased cash liquidity in the stock market.
Mohammed Sohail, CEO of Topline Securities, commented on the market’s performance, highlighting a 150% return from 40,000 to 100,000 points in just 17 months. He noted that despite the rally, Pakistan’s market trades at a price-to-earnings (PE) ratio of 5x, compared to the historical average of 7x. Reflecting on the market’s growth, he remarked, “From less than 1,000 points in the late 1990s to 100,000 today, the market is up 100 times. It’s been 25 years of ups and downs, bull runs and bear runs, optimism and pessimism.”
Over the past 25 years, the market has delivered impressive returns, with an annual return of 20 percent in PKR and 13 percent in USD. At the time of reporting, 121,277,809 shares were actively traded on the exchange, with the total value of shares reaching Rs. 2.77 million.
A total of 384 companies participated in the day’s trading, with 320 recording gains and 47 experiencing losses. The share prices of 17 companies remained unchanged.
