The Pakistan Stock Exchange (PSX) marked a strong opening, surpassing the 55,000 level in intraday trading on Friday and setting a new record. At 10:10 am, the KSE-100 index soared to 55,253.19 points, a notable 1.83% increase from the previous closing value of 54,261.42, with a gain of 991.77 points.
Arif Habib Limited reported that the index reached an unprecedented high, attributing the surge to optimism surrounding the successful completion of the International Monetary Fund’s (IMF) first review. Positive factors such as stabilized inflation, expected monetary easing, and attractive valuations despite the market’s record levels have bolstered investor confidence.
Tahir Abbas, Head of Research at Arif Habib Limited, and Raza Jafri, Head of Equities at Intermarket Securities, both highlighted domestic institutional buying, decreasing yields of Pakistan Investment Bonds (PIBs), and influential factors like the upcoming MSCI review and high-dividend-yielding stocks as contributors to the ongoing market growth. The ongoing IMF review remains a crucial factor shaping market dynamics.
