Sat Nov 09 11:10:00 UTC 2024: ## Pakistan Stock Exchange Hits Record High, Driven by Economic Indicators
**KARACHI, PAKISTAN** – The Pakistan Stock Exchange (PSX) continued its record-breaking streak for the second consecutive day, pushing the benchmark KSE-100 index above 93,000 for the first time ever. This surge was fueled by positive economic indicators including a stable rupee, rising remittances, and robust foreign exchange reserves.
The KSE-100 index reached a peak of 93,514.56 during trading, before settling at 93,291.68, a gain of 771.19 points or 0.83 percent.
Ahsan Mehanti of Arif Habib Corporation attributed the market’s bullish sentiment to a global equities boom, an increase in the MSCI standard index weight to 4.4%, and a decline in bank lending rates and government bond yields.
Topline Securities Ltd echoed this sentiment, highlighting the continued interest from investors due to decreasing fixed-income yields and improvements in macroeconomic indicators. Notably, remittances from overseas Pakistanis surged 24 percent year-on-year to $3.052 billion in October.
Trading volume also saw a significant increase, rising 12.44 percent to 763.25 million shares with a value of Rs30.20 billion.
Mutual funds remained active, picking shares worth $5.49 million, while foreign investors turned net sellers, offloading shares worth $2.51 million.
The strong performance of the PSX reflects growing confidence in the Pakistani economy, fueled by positive economic indicators and a favorable investment environment.
First Piper 