Will PSX spiral to 150,000?

Hold your breath for a while. There are differing views over the country's economic progress under the current government. While government officials rightly point out improvements in certain indicators as signs of victory and stability after tumultuous years of firefighting, the majority remain unconvinced. Nonetheless, there is a very small segment of stock market investors who seem to be having a ball. Although starting from a very low base, the broader KSE-100 index has seen astronomical returns, rising from 40,000 to nearly 120,000 points. The near 150-200% return of the index is creating mixed feelings in the country. If you ask certain investors, they would say their stock prices are far from their costs, while others will say they are in the green. The past seven to eight years have shown mixed results for investors. Gold, US dollars and bank accounts have often outperformed the stock market since the 2017 MSCI Emerging Market peak.