<\/p>\n
Shares at the Pakistan Stock Exchange (PSX) traded in the green on Monday, gaining over 900 points in intraday trade, with the analysts attributing the ongoing trend to clarity on the government structure.<\/p>\n
The KSE-100 index gained 904.03, or 1.44 per cent, to stand at 63,719.84 at 1:03pm from the previous close of 62,815.81.<\/p>\n
Mohammed Sohail, chief executive of Topline Securities, credited the rally to \u201cclarity on the new government structure\u201d.<\/p>\n
Tahir Abbas, head of research at Arif Habib Limited, also credited the \u201cclarity on the political front regarding formation of the new government\u201d for the upward movement, but highlighted that \u201crobust results announcement\u201d boosted investor confidence.<\/p>\n
He said the investors will continue to closely monitor the economic roadmap of the newly elected government, including the new International Monetary Fund (IMF) programme coupled with the new budget.<\/p>\n
Faran Rizvi, head of equity sales at JS Global, observed that \u201cthe resistance level for short-term traders\u201d stood at 63,200 points.<\/p>\n
He warned that the market might experience a \u201cminor correction from this level\u201d.<\/p>\n
Rizvi said factors such as political stability and the inflation cycle will play a crucial role \u201cin driving the market upward\u201d.<\/p>\n
However, he said that the indicators suggested \u201cpositive prospects for long-term macroeconomic growth\u201d.<\/p>\n
Yousuf M. Farooq, director of research at Chase Securities, echoed the same sentiments. He attributed the rally to \u201cimproved clarity on the political front\u201d, in addition to \u201ccheap valuations and the anticipation of a strong corporate results season\u201d.<\/p>\n
He added that the current account remained relatively under control, despite turning red in January, highlighting that the market participants anticipated a \u201csignificant interest rate cut over the next year\u201d.<\/p>\n
\u201cLower interest rates later this year would make stocks more attractive given the projected growth in earnings and dividends, alongside the expectations of increased consumer demand as the economy recovers,\u201d he said.<\/p>\n
He observed that expectations of a deal with the IMF also increased stability, although he cautioned that \u201chiccups in the next IMF deal remained a key risk for the economy and the stock market\u201d.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Shares at the Pakistan Stock Exchange (PSX) traded in the green on Monday, gaining over 900 points in intraday trade, with the analysts attributing the ongoing trend to clarity on the government structure. The KSE-100 index gained 904.03, or 1.44 per cent, to stand at 63,719.84 at 1:03pm from the previous close of 62,815.81. Mohammed […]<\/p>\n","protected":false},"author":2,"featured_media":64606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/i.dawn.com\/large\/2024\/02\/26113124caff505.jpg?r=113324","fifu_image_alt":"","footnotes":""},"categories":[10],"tags":[],"class_list":["post-64605","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/64605","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=64605"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/64605\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/64606"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=64605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=64605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=64605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}