The Pakistan Stock Exchange (PSX) saw a big increase, crossing the 66,000 milestone, thanks to falling oil prices and foreign investment. The index closed at 66,223.63, up 2.33% from the previous close. The market has seen six consecutive days of gains and a lot of domestic cash going in. Experts say that for every 1% shift from fixed income to stocks in Mutual funds and Insurance companies, Rs36bn would be invested. The market is also benefitting from declining oil prices and foreign investment. Investors are optimistic due to the economic policies and low valuations. The market is handling bad news like high Consumer Price Index print and delay in the International Monetary Fund board meeting well. However, there is a warning of increased volatility due to the rapid rise. Prime Minister Anwaarul Haq Kakar has vowed to maintain the market’s growth, acknowledging its importance as a stabilizing force. He also stressed the need for fairness and integrity in the market. He attributed the market’s recent performance to the improved economic outlook, foreign investors, and the government’s efforts in signing the IMF agreement and improving fiscal and external accounts.

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By hassani

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