KARACHI – The Pakistan Stock Exchange’s KSE-100 index initiated the day’s trading session on a positive note, with an early morning surge of over 300 points.
As of 11:35 am, the index had expanded its gains by 368.62 points, equivalent to 0.71 percent, breaking through the significant psychological threshold of 52,000 points for the first time in six years.
The previous day witnessed an increase in share prices following the announcement of an unchanged monetary policy on Monday by the State Bank of Pakistan (SBP). The SBP retained the policy rate at 22 percent to combat inflation, a decision that was largely in line with analysts’ expectations.
Raza Jafri, the head of Intermarket Securities, cited several factors contributing to this rally, including a keen focus on the economy, the possibility of future monetary easing, and optimism about a successful negotiation of the IMF review.
“The KSE-100 had a very strong October (+15% in USD) and looks good to extend its rally.”
However, he noted, “Despite the rally, valuations are still 50% lower than the long-term mean.”
Notable trading activity has been observed in stocks such as Worldcall Telecom Limited, Cnergyico PK Limited, Pakistan Refinery Limited, Pak Elektron Limited, and Oil & Gas Development Company Limited.
Leading the list of gainers are companies like Premier Insurance Limited, Ghazi Fabrics International Limited, Dandot Cement Company Limited, and Unicap Modaraba.
