The Pakistan Stock Exchange (PSX) has surpassed the 90,000-point psychological milestone, spurred by favorable economic indicators that are enhancing investor confidence.
The benchmark KSE-100 index of the PSX climbed by 1,100.32 points, reaching 90,046.3 points in intraday trading, up from the previous close of 88,945.98 points.
Arif Habib Limited’s Head of Research Tahir Abbas told Thenews.com.pk that the overall momentum of the market is positive.
“If you look at the economic indicators, including the numbers of remittance and current accounts, they are on a positive trend, so the market has a positive effect,” the analyst said.
Secondly, he noted, the interest rate is declining and inflation is on a downward trajectory. The upcoming monetary policy meeting, Abbas added, is also expected to cut the interest rate by 2%-2.5%.
This a developing story and is being updated with more details.
