Karachi: Karachi: The Pakistan Stock Exchange (PSX) on Wednesday violated the 58,000 mark for the first time as the economy followed the International Monetary Fund (IMF) installment for analyst driving The market thanks to financial easing and hope around.
According to the PSX website, the KSE-100 index increased by more than 800 to reach 58,203.85 during intra-day trading, which was close to 57,371.59 yesterday.
KSE-100 Index at 12:44 p.m. — Screengrab/PSX
KSE-100 Index at 12:44 p.m. — Screengrab/PSX
Tahir Abbas, head of research at Arif Habib Limited (AHL), told GeoTV that financial easing، Amid strong profit expectations, the market is continuing its positive momentum, and confidence in the next general election — is due to take place on February 8 next year.
“Furthermore, despite the fact that the market is trading at the highest level of all time, the value of the market is still attractive. He added that the KSE-100 index is currently trading at a PE of 4.3x (price-to-earnings ratio) compared to the previous 5-year average multiplier 6x،” He added.
Meanwhile, Pakistan Kuwait Head of Research, Samiullah Tariq told Geo.tv that the market IMF board approved the installment under SBA as well as hopes for lower prices than in the region Is responding to.
The day before, the stock reached another high as investors were optimistic about the possibility of getting the first installment of the loan from the global lender.
The market was pleased with the information that the IMF Board had approved a staff-level agreement on the installment of $ 700 million loan for Pakistan under the Standby Agreement The meeting may have taken place on Saturday in December, he added.
