The Pakistan Stock Exchange’s KSE-100 index maintained a bullish trend on Friday, soaring to an “all-time high” and crossing the 53,000 barrier.
The index gained 526 points, up 1 per cent, at 10:50am from the previous close of 52,656.76 points.
According to Arif Habib Limited, the market soared to “unprecedented all-time high levels” and surged past all the previous records, setting a “new era of financial excellence”.
Mohammed Sohail, chief executive of Topline Securities, told Dawn.com that the reduction in economic and political uncertainties could take the market to a new high.
“In the economic realm, a long-term and good relationship with International Monetary Fund, economic reforms and sustainability of debt repayment are required to reduce the malaise,” he said.
However, Sohail cautioned: “Don’t forget this is index (total return) with dividends and bonuses. Valuations are still low.”
More to follow
