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
No casualties as blast derails Jaffar Express train in Pakistan’s south
- Passengers were stranded and railway staffers were clearing the track after blast, official says
- In March 2025, separatist militants hijacked the same train with hundreds of passengers aboard
QUETTA: A blast hit Jaffar Express and derailed four carriages of the passenger train in Pakistan’s southern Sindh province on Monday, officials said, with no casualties reported.
The blast occurred at the Abad railway station when the Peshawar-bound train was on its way to Sindh’s Sukkur city from Quetta, according to Pakistan Railways’ Quetta Division controller Muhammad Kashif.
No group immediately claimed responsibility for the bomb attack, but passenger trains have often been targeted by Baloch separatist outfits in the restive Balochistan province that borders Sindh.
“Four bogies of the train were derailed due to the intensity of the explosion,” Kashif told Arab News. “No casualty was reported in the latest attack on passenger train.”
Another railway employee, who was aboard the train and requested anonymity, said the train was heading toward Sukkur from Jacobabad when they heard the powerful explosion, which derailed power van among four bogies.
“A small piece of the railway track has been destroyed,” he said, adding that passengers were now standing outside the train and railway staffers were busy clearing the track.
In March last year, fighters belonging to the Balochistan Liberation Army (BLA) separatist group had stormed Jaffar Express with hundreds of passengers on board and took them hostage. The military had rescued them after an hours-long operation that left 33 militants, 23 soldiers, three railway staff and five passengers dead.
The passenger train, which runs between Balochistan’s provincial capital of Quetta and Peshawar in the country’s northwest, had been targeted in at least four bomb attacks last year since the March hijacking, according to an Arab News tally.
Pakistan Railways says it has beefed up security arrangements for passenger trains in the province and increased the number of paramilitary troops on Jaffar Express since the hijacking in March, but militants have continued to target them in the restive region.
Balochistan, Pakistan’s southwestern province that borders Iran and Afghanistan, is the site of a decades-long insurgency waged by Baloch separatist groups who often attack security forces and foreigners, and kidnap government officials.
The separatists accuse the central government of stealing the region’s resources to fund development elsewhere in the country. The Pakistani government denies the allegations and says it is working for the uplift of local communities in Balochistan.
