The stock market in Pakistan reached a new all-time high due to a decrease in yields on treasury bonds. The KSE-100 index closed at 53,123.04 points, gaining 466.28 points or 0.89%. The drop in bond yields was a result of the central bank keeping the policy rate unchanged. The KSE-100 index has been performing well and is currently the best-performing in the world in dollar terms. Experts believe that stock prices will continue to rise in the coming months. The price-to-earnings (P/E) multiple of the index is currently low, meaning shares are trading at a significant discount compared to 2017. A brokerage firm expects the index to reach 65,000 points by June 2024. The rise in share prices can be attributed to the Stand-by Arrangement with the IMF which unlocked $3 billion, as well as strong corporate earnings and higher dividends. The positive momentum is expected to continue as long as the government maintains economic stability. Trading volume and value also increased on Friday.
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