The Pakistan Stock Exchange has surged to reach all-time high 90,000 points with investors taking strong interest in rate-sensitive sectors today.
The investors are expecting a major loosening of monetary policy in the State Bank’s upcoming meeting due to a positive overall economic outlook.
Today, the PSX’s benchmark KSE-100 index jumped by 1,100.32 points to reach 90,046.3 points during the intrday trade. Yesterday, the market closes at 88,945.98 points.
Director of Research at Intermarket Securities Saad Ali said that the market has remained bullish since the approval of $7 billion loan by the International Monetary Fund under the Extended Fund Facility (EFF).
He further said that after the IMF approval, political instability also ended as a result of the approval of the 26th Constitutional Amendment.
Chase Securities’ Director Research Yousuf Farooq said that we are in a bull market and market participation is increasing.
