Pakistan Stock Exchange Reaches All-Time High
Exciting news for investors as the Pakistan Stock Exchange (PSX) soared to new heights on Friday, with the benchmark KSE-100 index crossing the 82,000 mark in intraday trade.
The market’s momentum was attributed to falling yields and a positive outlook for inflation and interest rates. Yousuf M Farooq, director research at Chase Securities, noted the market’s expectations for a decline in inflation and interest rates, leading to an increase in activity.
Pakistan Investment Bonds (PIB) saw a significant drop in cut-off yield, signaling a positive trend in interest rates. Investors are also buoyed by the recent approval of the $7 billion Extended Fund Facility by the International Monetary Fund (IMF).
Despite some upcoming challenges like the FTSE rebalancing event, experts remain optimistic about the market’s performance. With the market showing resilience and continued growth, now may be the perfect time for investors to capitalize on these exciting developments.
Stay tuned for more updates on this exciting market trend!
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