KARACHI: On the historic day of achievement of 100,000 points mark, Governor Sindh, Kamran Tessori visited Pakistan Stock Exchange on Thursday to celebrate this achievement and congratulate the PSX management.
On arrival at PSX, the Governor was duly welcomed by Farrukh H. Sabzwari MD and CEO Pakistan Stock Exchange and the management team.
The KSE-100 Index crossed the 100,000-point mark for the first time in history, delivering an impressive 142 percent return over the past 17 months. This achievement reflects growing investor confidence, improved fiscal and monetary policies, and an increasingly conducive economic environment.
As Market closed, the KSE-100 index climbed by 813.52 points, reaching 100,082.77 points, up from its previous close of 99,269.25.
The rally comes amidst signs of cooling inflation and declining interest rates, which have boosted market liquidity and fuelled unprecedented gains.
Over the past five years, Pakistan Stock Exchange has delivered an annual return of 20.9 percent in PKR terms and 7.7 percent in USD, underscoring its resilience and appeal.
Farrukh H. Sabzwari, MD and CEO of PSX said that the KSE-100 Index crossing the 100,000 mark is a proud moment for Pakistan Stock Exchange and a testament to the trust of the investors and the progress of nation’s economy. “While this milestone demonstrates the potential of our capital market, our focus is on driving sustainable growth and working towards increasing the depth of our market and ensuring it supports the broader economic objectives of the country”, he said.
Expanding retail investor participation is a key priority, as it will foster inclusivity and resilience, enabling the market to grow alongside the nation’s economy, he added.
“The journey forward also requires broadening the base of listed companies, particularly from underrepresented sectors. By doing so, PSX aims to improve Pakistan’s market capitalization-to-GDP ratio, further complementing economic growth and increasing the market’s ability to attract long-term investments.”
“Congratulations to all stakeholders on this remarkable accomplishment. Together, let us use this momentum to pave the way for long-term economic and financial success.”
Copyright Business Recorder, 2024
Source: Brecorder
