The Pakistan Stock Exchange (PSX) witnessed a bullish trend as shares surged by nearly 800 points on Tuesday. The KSE-100 index rose by 0.94% to reach 85,709.62 points, reflecting investors’ optimism regarding the upcoming visit of a high-level Saudi delegation. The visit is anticipated to result in significant investments in various sectors such as energy, mining, and agriculture.
Investment experts like Awais Ashraf from AKD Securities highlighted the positive impact of the Saudi delegation’s visit on share prices of key companies like Oil and Gas Development Company and Pakistan Petroleum Limited. The increasing interest in high dividend-yielding stocks amid declining fixed income yields was also noted as a contributing factor to the market’s performance.
The Foreign Office confirmed the visit of the Saudi delegation, led by Minister for Investment Khalid Bin Abdulaziz Al-Falih, aimed at strengthening economic ties between the two countries. This move is expected to pave the way for enhanced economic partnerships between Pakistan and Saudi Arabia.
With the stock market responding positively to the falling bond yields, experts advise investors to focus on stocks benefiting from structural reforms and monetary easing for potential gains in the future.
Stay tuned for more updates on this developing story.
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