Karachi: The Pakistan Stock Exchange (PSX) maintained a fast race on the first day of the week as it violated 62,000 milestones during intra-day trading.
According to the PSX website, the benchmark KSE-100 index rose to 10 a.m. Monday:Increased by 701.86 points or 1.14% to reach 62,393.11 points during intraday trading at 24 o’clock.
KSE-100 Index. — PSX website
KSE-100 Index. — PSX website
Raza Jafari, head of equity at Intermarket Securities, said the Consumer Price Index (CPI) for November was showing more inflation, Some market participants expect a rate cut at next week’s Monetary Policy Committee (MPC) meeting.
He added that cheap energy reserves are also raising interest in hopes of improving circular debt, adding that “there it is “There is still enough room for money to turn into equity with fixed income and this may have started to happen”.
Stocks ended last week on a winning note, with the benchmark index reaching its latest high so far on Friday, Pleased with a series of foreign portfolio investment growth and encouraging economic indicators، That includes a strong rupee after a rollover of $ 3 billion deposit from Saudi Arabia.
The KSE-100 index closed at 61,691 points, jumping from 1,160 points, or 1.92%, after maintaining a positive momentum throughout the day.
“Ahsan Mahanti, an analyst at Arif Habib Limited, said, “Saudi Deposit Rollover، The stock closed a new all-time high between strong key economic data and the stabilization of the rupee after increasing investment in the foreign portfolio.
“Reports of over 6 years $30 million net FIPI during November 2023، And government consideration of the privatization of sick SOEs played a catalytic role in closing the record.”