Karachi: The Pakistan Stock Exchange (PSX) surged to a historic high on Thursday, with the benchmark KSE-100 index closing at 118,938 points—a 0.96% rise—after the government announced a major cut in electricity prices.
Earlier in the day, the market had dipped due to concerns over new US tariffs, hitting an intra-day low of 117,508 points. However, investor confidence rebounded after Prime Minister Shehbaz Sharif announced a reduction of Rs7.41 per unit for residential consumers and Rs7.59 for commercial users.
Despite initial pressure from global trade tensions, including a 29% US tariff on Pakistani goods, the power tariff relief drove the index to an intra-day peak of 119,179 points before settling just below 119,000.
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Before the Eid break, the PSX had closed lower due to profit-taking, but Thursday’s rally marked a strong recovery.
