The KSE-100 index soared to yet another record high during intraday trading on Thursday, demonstrating that bulls were still in control of the Pakistan Stock Exchange (PSX).
The benchmark 100 index increased by 1,359.73 points from its previous closing of 117,008.08 to hit an intraday high of 118,367.81 points.
Given the federal government’s ambitious ambition to overhaul the national economy, traders’ large buying binge coincides with predictions of economic stability in the nation.
The five-year national economic plan “Uraan Pakistan,” which aims to achieve sustainable development and economic stability, was inaugurated by Prime Minister Shehbaz Sharif on December 31.
Speaking to the audience, the prime minister emphasized that the program would offer a path forward for economic development, emphasizing work creation, infrastructure, energy, the digital economy, and the environment.
Meanwhile, investors’ confidence has also increased due to the falling rate of inflation. This is the lowest level of 4.1 percent in 81 months as a result of government actions.
The consumer price index was measured at 4.1 percent last month, down from 49 percent in June of last year, according to the Pakistan Bureau of Statistics. Comparing this to the 29.7 percent inflation rate in December 2023, there has been a notable decrease.
Compared to 2.3 percent in June 2024 and 27.3 percent in December 2023, the wholesale price index was just 1.9 percent last month.
