The Pakistan Stock Exchange’s KSE-100 index started trading in the green on Wednesday, gaining over 300 points. By 12:22 pm, the index had increased by 504.18 points, crossing the psychological barrier of 52,000 after six years. The rise in share prices can be attributed to the State Bank of Pakistan maintaining its policy rate of 22% to control inflation, which was in line with expectations. Raza Jafri, head of Intermarket Securities, highlighted the economy’s focus, prospects of monetary easing, and optimism about successfully navigating the IMF review as factors contributing to the rally. He also mentioned that valuations are still 50% lower than the long-term average. The most active stocks include Worldcall Telecom Limited, Cnergyico PK Limited, Pakistan Refinery Limited, Pak Elektron Limited, and Oil & Gas Development Company Limited. Premier Insurance Limited, Ghazi Fabrics International Limited, Dandot Cement Company Limited, and Unicap Modaraba are among the top performing stocks.
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