<\/p>\n
Shares at the Pakistam Stock Exchange (PSX) traded in the green on Wednesday as stocks gained 500 points in early morning trade, with analysts attributing the rally to \u201crobust results\u201d of companies and clarity on government formation.<\/p>\n
The benchmark KSE-100 index gained 507.79, or 0.8 per cent, to stand at 63,726.88 at 11:46am from the previous close of 63,219.09.<\/p>\n
Tahir Abbas, head of research at Arif Habib Limited, attributed the market\u2019s positive momentum to \u201crobust results and dividend announcement by the companies\u201d.<\/p>\n
\u201cThe profitability and dividends of KSE-100 index companies surged by 64pc YoY (year-on-year) and 40pc YoY respectively during the December ending quarter,\u201d he said.<\/p>\n
He further said that the formalisation of the provincial governments and clarity on the federal government also propelled investor confidence.<\/p>\n
Shahab Farooq, director of research at Next Capital Limited, attributed the upward trajectory to \u201cdiminishing political uncertainty and an upward movement in international bonds of Pakistan\u201d.<\/p>\n
Furthermore, he said that the reports of China rolling over $2 billion of debt had also fueled positive sentiments in the stock exchange.<\/p>\n
Sana Tawfik, deputy head of research at Arif Habib Limited, observed an upward trajectory in the refinery sector \u201con the back of refinery policy news\u201d. Additionally, the fertiliser sector also witnessed a spike in anticipation of the price hike, she said.<\/p>\n
She said the outlook was overall \u201cpositive\u201d as the country progressed towards the formation of a new government \u2014 a crucial factor for negotiating a new International Monetary Fund (IMF) programme.<\/p>\n
Additionally, she said that reports of the Chinese loan rollover also helped market sentiment.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Shares at the Pakistam Stock Exchange (PSX) traded in the green on Wednesday as stocks gained 500 points in early morning trade, with analysts attributing the rally to \u201crobust results\u201d of companies and clarity on government formation. The benchmark KSE-100 index gained 507.79, or 0.8 per cent, to stand at 63,726.88 at 11:46am from the […]<\/p>\n","protected":false},"author":2,"featured_media":65342,"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\/281154497badbc4.jpg?r=120757","fifu_image_alt":"","footnotes":""},"categories":[192],"tags":[],"class_list":["post-65341","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-islamabad-news"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t