KARACHI: Bulls continued to dominate the Pakistan Stock Exchange (PSX) as the benchmark index surged beyond the 66,000 mark on Friday, gaining over 1,000 points.
As per the PSX website, the KSE-100 index experienced a notable gain of 1,302.45 points or 2.01%, reaching 66,020.52 points at 11:39 am during intraday trading.
Raza Jafri, Head of Equities at Intermarket Securities in Karachi, mentioned that the banks and energy sector primarily led the rally at the stock exchange. The momentum was attributed to favorable valuations and a relatively stable environment, contributing to strong inflows as foreign and local investors continued to show interest and make investments.
He added, “The MPC (Monetary Policy Meeting) next week should set the tone for near-term trading. While unchanged interest rates are widely expected, investors will look for clues in the text of the monetary policy statement to gauge how much interest rates can come down by next year.”
