One day following a flat close, intraday trading on Thursday saw stocks soar almost 900 points, pushing the 83,000-point barrier as investors sought for high-yielding stocks amid lessening inflationary pressures and improving economic data.
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) increased by 924.94 points, or 1.13%, to peak at 82,958.73 at approximately 2:06 pm.
The CEO of EFG Hermes Pakistan, Raza Jafri, commented on this rapid increase, stating that falling bond yields were making equities more appealing, particularly highly leveraged and high-dividend stocks.
“A sizable portion of the foreign supply has also been absorbed, which is boosting purchasers’ confidence. We anticipate that the market will rise more and reach new heights,” Jafri continued.
