The Pakistan Stock Exchange (PSX) reached a milestone by crossing the 56,000 index mark. The KSE-100 index traded in the green and closed at 56,523.58 points, which is an all-time high. This increase was fueled by the first loan review by the International Monetary Fund (IMF) and a decrease in cut-off yields for Pakistan Investment Bonds. The market is in an overall bullish trend, and experts predict that it could reach levels between 59,000 and 60,000. Prudent investors are advised to engage in cautious buying at the current levels and implement strict stop-loss measures. The rally was attributed to bullish sentiments due to expectations of a positive IMF review and foreign buying ahead of the MSCI review. Experts also believe that the IMF talks seemed to be concluding positively, and attractive valuations triggered the market run. Overall, experts see room for growth in stock valuations and believe that the market’s liquidity has also been fueled by robust dividend announcements, buybacks, and institutional investments.
>>Join our Facebook Group be part of community. <<