PSX continues record rally as KSE-100 breaches 124,000 points for first time
The stake sale would be followed up with a listing of a further 20% of stock exchange shares in the domestic market
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The Pakistan Stock Exchange (PSX) reached a new all-time high on tuesday, with the KSE 100 Index crossing the 124,000-point mark for the first time in history during intraday trading.
The index gained 1,990.41 points, or 1.63%, as the market stood at 124,014.85 around noon local time. During the ongoing session, it peaked at 124,135.96 points, while the intraday low was 123,237.99 points.
Trading volume stood at 146.42 million shares, with a total market value of Rs13.84 billion.
This surge follows the announcement of the federal budget, which has been well-received by investors, sparking optimism in the market.
Read: Anti-digital, pro-realty sector budget
Yesterday, Finance Minister Muhammad Aurangzeb unveiled a Rs17.6 trillion federal budget for fiscal year 2025-26, laying stress on the government's focus on economic stability and growth.
Finance Minister highlighted key economic indicators during a post-budget briefing, citing improvements in remittances, inflation, and growth.
Aurangzeb said remittances had reached $31.2 billion so far, with projections of $37–38 billion by the end of the financial year.
The country's GDP growth stands at 2.7%, while inflation has eased to 4.7%, according to the minister.
The National Economic Council (NEC) approved Rs4.224 trillion in development spending, including Rs1 trillion for the federal Public Sector Development Programme (PSDP), Rs2.869 trillion for Provincial Annual Development Plans (ADPs), and Rs355 billion from state-owned enterprises' own resources.
For the fiscal year 2025–26, the government projects economic growth at 4.2% and both inflation and interest rates at 7.5%.
Aurangzeb said the budget deficit is forecast at 3.9% of GDP, with a primary surplus of 2.4%.
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