Pakistan Stock Exchange Reaches New heights, Surpasses 66,000 Mark
The Pakistan Stock Exchange (PSX) witnessed a positive start on Friday, with the benchmark index surging past the 66,000 milestone and gaining over 1,000 points.
As of 11:39 am during intraday trading, the KSE-100 index recorded a substantial gain of 1,302.45 points or 2.01%, reaching 66,020.52 points, according to the PSX website.
The rally at the bourse was led by the banks and energy sectors, with cheap valuations and a relatively settled environment contributing to strong flows as both foreign and local investors continued to make investments.
Raza Jafri, Head of Equities at Karachi-based Intermarket Securities, noted that the upcoming Monetary Policy Meeting (MPC) next week is expected to set the tone for near-term trading. While unchanged interest rates are widely anticipated, investors will closely examine the text of the monetary policy statement for clues on potential interest rate reductions in the coming year.
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