PSX Ranks Among Top Global Markets in 2024: Bloomberg

APP

Islamabad: The Pakistan Stock Exchange (PSX) has emerged as one of the top-performing global markets in 2024, according to a Bloomberg report.

The report highlights that Pakistan’s stock market has been buoyed by an improving economic outlook and the initial loan agreement with the International Monetary Fund (IMF) in July.

The PSX has surged by over 30% this year, driven by foreign investors’ net purchases of $87 million in local shares—the highest inflow since 2014, according to data compiled by Bloomberg.

The report also noted that Pakistan’s current account balance has improved in recent months, with the central bank reducing interest rates as inflation eases.

On Thursday, the PSX closed near a record high, with the benchmark KSE-100 index gaining 1.1% to finish just below the previous all-time high of 81,865.10 points, after reaching a new peak earlier in the day.