On Tuesday, the benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) surged more than 800 points, breaking the 91,000 barrier during intraday trade.
The index increased from the previous close of 90,195.51 by 819.09 points, or 0.91%, to 91,014.60.
Chase Securities’ research head, Yousuf Farooq, credited this bullish trend to steady inflows from mutual funds that were moving away from fixed-income assets. He pointed out that the current earnings season and a decline in exploration businesses’ receivables have also fueled the market’s rise.
Shahbaz Ashraf, chief investment officer at FRIM Ventures, outlined a number of factors that contributed to the market’s rise, including lower interest rates, lower inflation rates, a stable rupee, good profitability of PSX-listed firms.
