Stocks rose for a second straight day on Friday as aggressive buying continued into the afternoon as sentiment strengthened due to bets on big company results and further monetary easing.
Indicating sustained investor optimism, the benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) rose 1049.32 points, or 0.93%, to close at 114,255.72 after hitting an intraday high of 115,106.99. At 113,692.87, the session’s lowest level was noted.
According to Ahsan Mehanti, managing director and CEO of Arif Habib Commodities, “stocks were bullish, led by scrips across the board on investor speculations over earning announcements.”
“The record surge at PSX was triggered by falling government bond yields, government measures, rupee stability, and SBP hinting at further rate cuts amid thin inflation,” he said.
