Stock market opens above 80,000 points amidst hopes of growth

KARACHI: The Pakistan Stock Exchange (PSX) opens at 80,212.79 points after Friday’s minor decline of 70 points.

During the outgoing week, the benchmark KSE-100 index crossed 80,000 points marks for the first time. On Thursday, the bourse touched 80,282.80 points in a first ever rally of this degree.

PSX ends record high run, closes with a 70-point loss

The same day, Arif Habib Limited (AHL), a leading brokerage house, published its latest Pakistan Strategy report. The report predicts a substantial 36 per cent return for the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index, projecting it to reach 109,250 points by June 2025.

Pakistan’s anticipated entry into a new three to four-year EFF programme with the IMF, estimated to be worth between $6 billion and $8 billion is a major impetus to this prediction of 100,000 points crossing.

However, inflation is expected to average around 10.7 per cent during FY25 which may cause problems for the stability of investor confidence.

PSX closing: KSE-100 sets new record high despite minor gains

Today (Monday), the index opens at 80,212 points, with hopes of maintaining strength and reversing minor losses from yesterday.