Exciting news from the Pakistan Stock Exchange (PSX) as shares hit an all-time high, with the benchmark KSE-100 index surpassing the 82,000 milestone. The market showed remarkable growth, with the index closing at 82,074.44, up by 615.16 points from the previous day.
Yousuf M Farooq from Chase Securities attributed this surge to the decline in yields, signaling expectations of decreased inflation and interest rates. The recent drop in interest rates, along with the government’s efforts to reduce borrowing costs, have been crucial factors driving this boom.
Shahbaz Ashraf of FRIM Ventures highlighted the market’s 3.6% rise since last week, emphasizing the boost from the IMF approval and upcoming monetary easing. Meanwhile, Awais Ashraf from AKD Securities credited commercial banks for leading the index.
Overall, the positive market performance has been influenced by various factors, including the IMF’s EFF approval and the promising PE ratio. While the FTSE rebalancing event poses a short-term risk, it also presents an opportunity for strategic investments. Exciting times ahead for investors in the Pakistani stock market!