Pakistan Stock Exchange Sees Major Annual Gains

Pakistani stocks are on track for their largest annual gain in 22 years, with the KSE-100 Index rising approximately 86% in 2024, driven by improved economic conditions and expectations of further interest rate cuts. The index's performance positions it as the second-best globally in local currency terms among over 90 tracked by Bloomberg. Recent market activity was bolstered by a significant surge of nearly 3,908 points in a single day, following hints from the finance minister about possible single-digit interest rates. In line with these developments, Pakistan is also pursuing a free trade agreement with Kenya to enhance economic ties, particularly in commodities like tea and rice. This agreement aims to foster sustainable growth and investment opportunities, bolstering Pakistan's economic recovery post-IMF bailout. Analysts predict continued foreign investment inflows into Pakistan's stock market, supported by the performance outlook and government reforms.