ISLAMABAD: The Pakistan Stock Exchange (PSX) hit an all-time high on Friday, surpassing the 141,000-point mark, with analysts attributing the surge to the US trade tariff deal that helped boost investor confidence.
The KSE-100 index rose by 1,644.56 points or 1.18 percent to close at an all-time high of 141,034.98, up from the previous close of 139,390.42.
Pakistan and the US finalized a trade deal this week, under which the US will charge a 19 percent tariff on imports and also support the development of Pakistan’s oil reserves.
“US trade tariff deal at 19 percent is giving an edge over regional peers, and cut in fuel prices to ease inflation played a catalyst role in bullish activity at PSX,” Ahsan Mehanti, CEO of Arif Habib Commodities, said.
He noted that stocks also closed at an all-time high as investors reacted to the Consumer Price Index, which stood at 4.1 percent year-on-year for July.
