The Pakistan Stock Exchange (PSX) hit a record high, crossing the 61,000 milestone. The KSE-100 index reached 61,412.41 points, up 1.12% from the previous close of 60,730.26. Stock prices have been rising rapidly since the start of 2023-24, with the index rising by over 38% in the last five months. Foreign investments, especially from overseas corporate investors, have contributed to this growth. Analysts believe that foreign buying ahead of the MSCI review on November 30 and expectations of a reduction in yields in the T-bill auction are driving the current surge. The bullish momentum is expected to continue in the near term, and may receive further boost once the International Monetary Fund’s executive board approves the first review of the $3bn Stand-By Arrangement (SBA) on Dec 8. This news will lead to disbursement of about $700 million. More updates will follow.

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By hassani

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