Pakistan stocks' bull run continues as KSE-100 reaches new milestone

The Pakistan Stock Exchange continued its winning streak for the fifth session in a row and made a new milestone, surpassing the 90,000-points level after the 26th Constitutional Amendment sailed through parliament and expectations rose of a further rate cut in benchmark interest rate.

The benchmark KSE-100 index was up by 89,973.35 points or 1.16% at 11:32 AM. It earlier reached a record high of 90,087.41 points around 9:55 AM.

Since the start of 2024, the KSE-100 index has recorded a gain of more than 40% and is termed as the fourth-best performing market globally. The index during the current week has jumped by more than 4,000 points.

The International Islamic Trade Finance Corporation has assured that they would disburse $3 billion to Pakistan in three years, while the International Monetary Fund is likely to give $1 billion under the Climate Resistance Plan.

Another factor which improved sentiments were the financial results arriving from blue-chip companies and continuous pouring of fresh flows from mutual funds and some of the insurance companies buying stocks having promise of good dividends.