The Pakistan Stock Exchange has surged by 901 points to reach all-time high 88,095 points with investors taking strong interest in rate-sensitive sectors.
The investors are expecting a major loosening of monetary policy in the State Bank’s upcoming meeting due to a positive overall economic outlook.
The KSE-100 index gained 901 points to reach 88,095 points during the intraday trade at 11:07am, up from the previous close of 87,194.53 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.
He further said that the volumes for the ready and futures counters combined have been above Rs40 billion for the last couple of days.
