Pakistani Stock Exchange On Record High 72,051 points
Pakistan’s stock market has once again soared to unprecedented heights, breaching the remarkable milestone of 72,000 points. This surge has sparked optimism among investors, buoyed by a significant resurgence in foreign exchange reserves. The anticipation of a potential reduction in the key interest rate, and subsequently, a decline in inflation, has further fueled market enthusiasm.
Closing at an impressive 72,051.89 points, the benchmark KSE-100 Index witnessed a notable gain of 692.49 points or 0.97%. In intraday trading, the index surged even higher, reaching 72,335.89 points, marking a substantial increase from the previous day’s close.
Raza Jafferi, CEO of EFG Hermes Pakistan, attributed the market’s upswing to notable improvements in economic indicators, particularly the bolstering foreign exchange reserves and the promising trajectory of inflation. These factors have instilled expectations of monetary easing, serving as a significant impetus for equity investments. Jafferi highlighted the burgeoning interest in sectors such as cement and textile, characterized by high leverage, which have been instrumental in propelling the ongoing rally.
Echoing similar sentiments, Muhammad Sohail, CEO of Topline Securities, emphasized the record-breaking nature of the KSE-100 index’s performance. He pointed to forecasts of a decrease in consumer inflation following a noteworthy current account surplus, bolstering investors’ confidence in an impending interest rate reduction.
The previous day witnessed a slight downturn in stock prices, characterized by mixed trading patterns. Initial gains, largely driven by a surge in the cement sector, were offset by profit-taking activities in subsequent sessions. Ahsan Mehanti, an analyst at Arif Habib, attributed this fluctuation to various factors, including weakened global crude oil prices, concerns over refinery shutdowns, and expectations surrounding the State Bank of Pakistan’s policy announcement ahead of upcoming IMF loan negotiations.
Moreover, uncertainties stemming from developments such as Shanghai Electric Power’s withdrawal from the KE acquisition offer, as well as fluctuations in Pakistan-US relations impacting trade agreements with Iran, contributed to the market’s cautious sentiment. Additionally, the depreciation of the rupee further exacerbated the negative market close.
Всё, что нужно знать о покупке аттестата о среднем образовании
купить диплом о среднем образовании в воронеже [url=https://man-diploms.ru/]man-diploms.ru[/url] .