Excitement filled the air on the trade floor as bulls maintained their dominance for the third day in a row at the Pakistan Stock Exchange (PSX), propelling shares past the 86,000 milestone. The benchmark KSE-100 index surged by 0.59%, reaching 86,166.15 points, showcasing the market’s positive momentum.
Investors were buoyed by the anticipation of an improved investment climate, heightened by the upcoming Saudi delegation’s visit. The positive outlook was further reinforced by higher remittance figures for September, easing concerns about external account pressures.
Market experts recommended investing in stocks aligned with structural reforms, FDI potential, and monetary easing benefits. Despite hitting a new high, Pakistan equities remain attractively valued, boasting a PE ratio of 3.7 and a dividend yield of 12.7%.
The market’s optimism was also fueled by the upcoming Saudi delegation’s visit, with companies like OGDC, PPL, PSO, and PRL witnessing increased share prices. The delegation’s visit is expected to result in significant economic agreements, further boosting investor confidence.
Stay tuned for more updates on this exciting market trend!