Pakistan Stock Exchange second-best performing market globally in 2024
Its benchmark KSE-100 index has surged 77.93% in 2024, defying global trends
Business Desk
The Business Desk tracks economic trends, market movements, and business developments, offering analysis of both local and global financial news.
Pakistan Stock Exchange Market Screen
Reuters
The Pakistan Stock Exchange (PSX) has secured its position as the world's second-best performing market, with its benchmark KSE-100 index surging 77.93% so far in 2024.
The KSE-100 index has risen from 62,451 points on December 29, 2023, to 108,897 points on December 10, 2024. This significant growth is attributed to reduced inflation, declining interest rates, a stable currency, and support from international donor agencies.
Argentina's S&P MERVAL index leads the global rankings with a 90.8% return, while Kenya's Nairobi All Share Index ranks third with a 57.01% return. Canada's General Market Index and Sri Lanka's Colombo All Share Index follow, with returns of 49.09% and 44.28%, respectively.
Pakistan's economic growth and stability have contributed to the PSX's strong performance, making it an attractive investment option.
The country's efforts to implement macroeconomic reforms and follow International Monetary Fund (IMF) guidelines are expected to further boost market sentiment.
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