From its previous close of 81,967.00 points at 1:24 pm, the benchmark KSE-100 index increased 836.06 points, or 1.02 percent, to stand at 82,803.06 points. The index finally concluded at 82,721.76, up 0.92 percent, or 754.76 points, over the previous closing.
“Lower bond yields are making equities more attractive, especially high dividend yielding and highly leveraged stocks,” stated Raza Jafri, chief executive of EFG Hermes Pakistan.
“A significant chunk of foreign supply has also been absorbed,” he continued, “which is giving buyers more confidence.”
Topline Securities CEO Mohammed Sohail also credited the bullish momentum to the money market’s declining yields, which “generated renewed buying from investors.”
