The benchmark index of the Pakistan Stock Exchange extended its gains on Friday as it crossed the 55,000 milestone following a 1,100-point surge, reaching an “all-time high”.
According to the PSX website, the KSE-100 index traded in the green throughout the day, making rapid gains. The index eventually closed at 55,391.36 points, up 1129.94 or 2.08 per cent from the previous close of 54,261.42. In a post on X (formerly Twitter), Arif Habib Limited said the index was trading at an “all-time high”.
Speaking to media, FRIM Ventures Chief Investment Officer Shahbaz Ashraf said the main reason for the rally was the reduction in Pakistan Investment Bonds yields, which had prompted domestic buying.
“Besides this, the technical reason is that State Life is the main market buyer. I think majorly, the market is trading at very attractive valuations,” he added. Yields coming down are a crucial indicator to determine if interest rates are about to ease up.
