The equity market rallied on Thursday, with the Benchmark KSE-100 index reaching a new summit of all time at the start of trade, continuing its upward trajectory while investors maintained the purchase of dynamics in the key sectors.
The rally follows sustained earnings by softening geopolitical tensions and expectations of a stable economic roadmap under the supervision of the International Monetary Fund (IMF).
The reference index of the Pakistan Stock Exchange (PSX) reached a new historic summit of 120,668.42 points, increasing 736.97 points, or 0.61%, during the intra-day merchant, up compared to the previous fence of 119,931.45.
The index also marked a minimum of 120,210.56, still increased by 279.11 points, or 0.23%, during the early session, maintaining a bullish tone closes throughout.
“It is a continuation of the relief of the rally after the Indo-Pak war,” said Aah Soomro, an independent investment and economic analyst. “The market remains overall attractive with more investors who deploy funds in a coherent manner.”
“The agreement with the IMF on the budget is likely to give an impetus to the actions of the growth sector and to prosecute Bull Run around 150,000 in a year,” he added.
The rally follows the high performance on Wednesday, when the KSE-100 index closed at 119,931.45, winning 960.33 points, or 0.81%.
