The Pakistan Stock Exchange (PSX) continued to gain on Friday, crossing the 55,000 barrier. The KSE-100 index reached 55,081.56, up 800 points from the previous close. The rally was due to a reduction in Pakistan Investment Bonds (PIBs) yields, prompting domestic buying. Yields coming down are an important indicator of interest rates easing up. Expectations of higher weight for Pakistan in the upcoming review of global index provider MSCI also contributed to the rally. The KSE-30 index, which tracks the share prices of top 30 companies, was still 35% below its 2017 peak. This news is still developing.
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