The Pakistan Stock Exchange’s main index, the KSE-100, started the day with a gain of more than 300 points. By midday, the index had increased by over 500 points, crossing the 52,000 mark for the first time in six years. This rise in stock prices follows the announcement that the State Bank of Pakistan will maintain its key interest rate at 22%, in line with expectations. Raza Jafri, head of Intermarket Securities, attributes the rally to a strong focus on the economy, the prospect of future monetary easing, and optimism about navigating the IMF review. However, Jafri also notes that despite the rally, valuations are still 50% lower than the long-term average. The most active trading has been seen in stocks such as Worldcall Telecom Limited, Cnergyico PK Limited, Pakistan Refinery Limited, Pak Elektron Limited, and Oil & Gas Development Company Limited. The top performers include Premier Insurance Limited, Ghazi Fabrics International Limited, Dandot Cement Company Limited, and Unicap Modaraba.
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