ISLAMABAD: The Pakistan Stock Exchange (PSX) has surpassed the significant 90,000-point mark, fueled by strong economic indicators that are enhancing investor confidence.
The benchmark KSE-100 index rose by 1,100.32 points, reaching 90,046.3 points during intraday trading, up from the previous close of 88,945.98 points.
Experts told media that the market’s overall momentum remains positive.
“If you look at the economic indicators, such as remittance figures and the current account balance, they are showing a positive trend, which is reflected in the market,” the analysts explained.
They also highlighted that interest rates are falling and inflation is easing. They anticipated up to 2.5% cut in the upcoming monetary policy meeting.
“Despite the market’s rally, its valuation remains highly attractive and undervalued,” he said.
“Our average has been around six times earnings. There is significant liquidity in the market, and with limited returns in fixed income assets and the market’s attractive valuation, investors are shifting towards equities, driving value buying,” experts added.
On Thursday, the Pakistan Stock Exchange (PSX) reached a historic milestone, nearing 89,000 points with a remarkable surge of approximately 1,750 points. This rise was driven by strong investor interest in blue-chip stocks and expectations of a significant policy rate cut in the upcoming monetary policy announcement.
Investor confidence was further boosted by positive corporate earnings during the ongoing results season and ongoing negotiations with China to restructure energy sector debt.
The market saw steady gains for most of the day, with the KSE-100 index reaching an intraday high of 89,126.16 points shortly after midday.
To be updated further…..
