The Pakistan Stock Exchange (PSX) continued its positive momentum on Friday, with the benchmark KSE-100 index surpassing the 93,000 mark for the first time ever during intra-day trading.
The benchmark index jumped by 619.57 points or 0.67% and reached 93,140.05 points at noon, up from yesterday’s close of 92,520.48 points.
Saad Ali, Intermarket Securities Director of Research, told local TV that current optimism was mainly driven majorly by the oil and gas stocks owing to their strong cash-flows and payouts.
“Yesterday’s Sukuk auction in which one-year FRD yield fell to 10.99%, raising expectations of accelerated rate cuts down the line, also boosted investors morale,” Ali added.
