Banks, vitality sector lead rally as low-cost valuations and fairly settled surroundings assist flows stay robust, says analyst
KARACHI: Bulls maintained their grip on the Pakistan Inventory Alternate (PSX) because the benchmark index shot previous the 66,000 mark on Friday by gaining over 1,000 factors.
In line with the PSX web site, the KSE-100 index gained 1,302.45 factors or 2.01% to achieve 66,020.52 factors at 11:39am through 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 surroundings assist flows stay robust as overseas and native buys proceed to take a position.
“The MPC (Financial Coverage Assembly) subsequent week ought to set the tone for near-term buying and selling. Whereas unchanged rates of interest are extensively 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 yr,” he added.
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