Historic performance tosses PSX to record highs in FY25

The Pakistan Stock Exchange (PSX) has become a prominent symbol of economic stabilisation, reaching an all-time high and being recognised as one of the best-performing markets globally during the outgoing fiscal year. According to the Economic Survey 2024-25, released by Finance Minister Muhammad Aurangzeb on Monday, the equity market registered a significant growth of 50.2pc from 78,445 to 117,807 points during the July-March period. During the period under review, the index closed at its highest level of 118,770 points on March 20, while the lowest level was observed at 77,084 points on Aug 5, 2024. However, the benchmark index surged by 54.3pc to a record 121,641 points as of June 5 from 78,824.33 on July 2, 2024 and the market capitalisation rose 41.8pc to Rs14,729bn from 10,432.69. The unprecedented performance of the index can be attributed to robust corporate earnings, declining interest rates amid a sharp deceleration in inflation to single digits, the successful first IMF Extended Fund Facility programme review and subsequent disbursement of the tranche, and a stable macroeconomic environment, which boosted investors’ confidence.