FX.co ★ Stocks in Pakistan Top Fresh Records

In June, the benchmark KSE-100 Index of the Pakistan Stock Exchange continued its upward trajectory, surpassing the 121,400 mark. This rise is attributed to increasing investor confidence in Pakistan’s economic and financial prospects. The government recently approved a significant federal development budget worth PKR 1 trillion and set a bold economic growth target of 4.2% for the upcoming fiscal year. Moreover, the Asian Development Bank has sanctioned an $800 million program to bolster fiscal sustainability, and the central bank has halved the interest rate to 11%. In the year 2024, the KSE-100 Index experienced a remarkable increase of approximately 84% and has already added about 4% this year. However, the market encountered a brief but significant setback in early May amid severe geopolitical tensions. These tensions escalated following airstrikes and aircraft downing, leading both India and Pakistan to issue threats of retaliation, marking the most serious conflict between the two nations in decades.