ISLAMABAD: The Pakistan Stock Exchange (PSX) crossed the 90,000-point mark during intra-day trading on Friday, reaching an all-time high before settling just below the milestone, with analysts attributing the bullish trend to economic stabilization and political equilibrium.
The benchmark KSE-100 index climbed 1,141 points, or 1.25 percent, to reach a record high of 90,087 points during the day. By the close of the session, however, it eased to 89,993.96 points, up by 1,047.98 points, or 1.16 percent, from the previous close.
Analysts say an equilibrium in politics, economic stability and reducing interest rates, both locally and globally, were ushering in liquidity into Pakistani equities.
“If Pakistan continues to stick to its razor-sharp focus on the economy, it may lead to a multi-year boom at the KSE100,” Raza Jafri, head of equities at the Karachi-based Intermarket Securities, told Arab News.
Topline Securities, a leading brokerage house in Pakistan, said the crossing of 90,000-mark by Pakistani stocks was one of the “fastest record gains of 125 percent in the last 18 months.”
The development comes as the South Asian nation’s economic indicators continue to improve after it secured a $7 billion, 37-month bailout package from the International Monetary Fund (IMF) last month. Pakistan’s central bank also cut its key policy rate by 200 basis points to 17.5 percent in September, making it the third straight reduction since June.
Last year, Pakistan narrowly avoided a sovereign default when it clinched a $3 billion IMF loan program. The country has suffered a prolonged economic crisis that drained its foreign exchange reserves and saw its currency weaken amid double-digit inflation.
Pakistan Stock Exchange crosses 90,000 points, hits record high before closing below milestone
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Pakistan Stock Exchange crosses 90,000 points, hits record high before closing below milestone
- KSE-100 index climbed 1,141, or 1.25 percent, to reach an all-time high of 90,087 points
- Bullish trend fueled by ‘economic stabilization’ and ‘equilibrium in politics,’ analyst says
Pakistan Navy tests missile, loitering munitions and unmanned vessel at Arabian Sea
- The exercise reflects growing focus on air defense and autonomous systems in modern warfare
ISLAMABAD: Pakistan’s navy conducted live firing of a surface-to-air missile, tested loitering munitions and carried out open-sea trials of an unmanned surface vessel during a major exercise in the North Arabian Sea on Saturday, highlighting a growing focus on air defense and unmanned warfare amid evolving regional security dynamics.
The exercise, which demonstrated both conventional and autonomous capabilities, comes at a time when Pakistan is increasingly emphasizing advanced technology and multi-domain operations following last year’s four-day conflict with nuclear-armed India, which reinforced the importance of air defense, surveillance and precision strike systems.
“Pakistan Navy demonstrated its operational readiness and combat preparedness through a comprehensive exercise in the North Arabian Sea, showcasing both conventional and unmanned capabilities, as per dictates of evolving naval warfare,” the Navy’s Directorate General Public Relations said in a statement.
“The exercise included the successful live firing of LY-80(N) Surface to Air Missile (SAM) from Vertical Launching System at extended range, validating the long-range capabilities of Pakistan Navy’s modern air defense systems,” it added. “LY-80(N) SAM successfully engaged and neutralized an aerial target, demonstrating Pakistan Navy’s robust air defense capabilities.”
The statement said the exercise also featured the successful engagement of surface targets using a loitering munition, which it said demonstrated the navy’s precision strike capability.
“Successful open-sea trials of Unmanned Surface Vessel (USV) were also conducted, marking a significant leap in autonomous naval technology,” it continued. “The trials validated the platform’s ability to combine high-speed performance with mission-critical durability.”
Pakistan’s armed forces routinely hold large-scale exercises to enhance operational readiness, but recent drills have placed greater emphasis on emerging technologies, reflecting lessons drawn from modern conflicts.
Key capabilities demonstrated during the exercise included extreme maneuverability, precision navigation and weather resilience.
Chief of the Naval Staff Admiral Naveed Ashraf commended officers and men of the Pakistan Navy for their professionalism and operational competence, reiterating the navy’s resolve to ensure the seaward defense of the country and safeguard its maritime interests.
