The Pakistan Stock Exchange (PSX) reached close to 60,000 points on Monday, with the KSE-100 index showing a sudden surge of 563.58 points at 1:11pm. The previous session saw the index touch a new record of 59,100 points, attributed to corporate profits, reduced economic volatility, and optimism about the economy. Raza Jafri from Intermarket Securities stated that the banking sector is leading the rally, with improved outlook and high dividend yield. Shahbaz Ashraf from FRIM Ventures attributed the rally to cheap valuations and increased liquidity, with foreigners also active in the market, especially in banking and fertilizer sectors. More updates to follow on this topic.
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