During intraday trading, the benchmark KSE-100 index increased by around 900 points on the Pakistan Stock Exchange (PSX).
The index experienced resistance around the 83,000-point barrier, ultimately gaining 884.01 points, or 1.08%, to reach a high of 82,958.73 around 1:23 pm.
Raza Jafri, CEO of EFG Hermes Pakistan, ascribed this dramatic increase to reduced bond yields, which are increasing the appeal of equities, especially highly leveraged and high dividend-yielding stocks. “A significant portion of foreign supply has also been absorbed,” he said, adding, “which is giving buyers more confidence.” We anticipate that the market will rise further and reach new heights.
Stocks ended the week marginally higher thanks to declining inflation, stable currency values, and expansion in the agriculture sector.
