Stocks bullish trend continued on Friday as the benchmark KSE-100 index gained 146.25 points or 0.36 percent by 10:01 am to reach 41,572.62 points.
As per the markets experts, the rupee’s sharp recovery and surging global equities were feeding into improved sentiment in the stock market.
Experts said that investors who had lost interest in the last few months are now circling back.
Stocks are bouncing back since Wednesday when the Pakistani Rupee recovered by Rs9.59, making the largest single-day gain in years after weeks of battering amid political and economic turmoil.
Finance Minister Miftah Ismael visits PSX
Finance Minister Miftah Ismael visited the Pakistan Stock Exchange (PSX) and stuck the gong to pen the trading day amidst the presence of PSX high-ups, reported 24NewsHD TV channel.
On the occasion, Chairperson PSX, Dr. Shamshad Akhtar; Chairman SEC Pakistan, Aamir Khan; MD and CEO PSX, Farrukh H Khan; PSX Board Members; key stakeholders, and guests.
Miftah Ismael in his recent interview said that the Chinese rollover of debt and the International Monetary Fund’s (IMF) Staff Level Agreement would bring stability and confidence to the Pakistani market.
IMF had completed all prior actions required for the seventh and eighth reviews and acted as a catalyst in the stock market’s rise.
Reporter Ashraf Khan