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Bulls maintained their grip on the Pakistan Inventory Change (PSX) because the benchmark index shot previous the 66,000 mark on Friday by gaining over 1,000 factors.
In keeping with the PSX web site, the KSE-100 index gained 1,302.45 factors or 2.01% to succeed in 66,020.52 factors at 11:39am throughout the intraday buying and selling.
Raza Jafri, who’s the pinnacle of equities at Karachi-based Intermarket Securities, stated that the banks and vitality sector lead the rally on the bourse as low-cost valuations and a fairly settled atmosphere assist flows stay sturdy as international and native buys proceed to speculate.
“The MPC (Financial Coverage Assembly) subsequent week ought to set the tone for near-term buying and selling. Whereas unchanged rates of interest are broadly anticipated, traders will search for clues within the textual content of the financial coverage assertion to gauge how a lot rates of interest can come down by subsequent 12 months,” he added.
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