The⁢ Pakistan Stock Exchange (PSX) achieved a historic milestone​ on Tuesday,‌ September 24, 2024, surpassing 166,000 points for​ the first time. The benchmark KSE-100 index reached an intraday ⁣peak of 166,556.29,a ‌substantial increase of 2,708.61 points, ⁢or 1.65 percent. Even at its‍ lowest point during the day, 164,208.33, the index showed a gain of​ 360.65​ points, or 0.22 percent according to Dawn.

This‍ surge ⁣in market ⁤performance is attributed to increased fund inflows, broader market‍ participation (breadth), and higher trading ⁤volumes (turnover). ‍Investor positioning is currently considered constructive, and⁤ attention ​is now focused on the ongoing review by⁤ the ⁣International monetary Fund⁢ (IMF). Most⁣ market participants⁢ anticipate a ‍smooth conclusion to the review, which‌ would ‌maintain positive risk appetite, ‍unless unforeseen issues arise.

IMF Review and⁢ investor Sentiment

Awais Ashraf, Director of ⁣research at AKD Securities, expressed⁣ optimism regarding a successful IMF review‌ and the potential for‍ increased foreign direct⁢ investment⁢ (FDI). this optimism is fueled by improved diplomatic relations with both the United States and Saudi Arabia as reported by Dawn.

As the‍ government progresses through critical negotiations⁣ with the IMF,⁤ market participants are hopeful that positive developments in the ⁣review will‌ bolster investor confidence.However, concerns remain ⁣regarding⁢ the review’s potential impact on Pakistan’s fiscal stability. Some analysts⁢ caution that achieving the⁣ targets set by the IMF remains ‌a significant challenge.

Past KSE-100 Index Performance

The following table illustrates the⁤ KSE-100 index’s ‌performance over the ⁢past year, highlighting the recent‍ upward trend: