The Pakistan Stock Exchanges PSX benchmark KSE index crossed the mark on Thursday for the first time in months after gaining almost points . The market saw an increase of . points at am and eventually closed at . points after gaining . points . Arif Habib Corporation said the market gained points .
pc since the government reached a standby agreement with the International Monetary Fund IMF on June . The stock market had last achieved this milestone on November it added . Topline Securities CEO Mohammed Sohail stated that the PSXs recovery was ongoing with the benchmark index gaining pc this month after a gap of three years .
He attributed the surge to an increase in investor confidence driven by expectations of a smooth transition of power to the new government along with the disbursement of the IMF tranche and inflows from friendly countries . He also mentioned that another positive factor contributing to market sentiment was Chinas decision to roll over a loan without increasing its markup .
The PSX’s recovery is ongoing with a gap between the PSxs recovery after a three years after a Gap of 3 years, said Topline SEC CEO Mohammed . Shehzad said . SOHail . Sohil . Sohan said he attributed the rise of investor confidence to an increased investor confidence .
He added that there was optimism for good dividend payouts in the current upward rally and there was an increase to the PS Xs recovery is expected to be a boost to the benchmark Index of the PSXLs recovery in the future. The PSXL’s recovery was in the mid to mid-October.
He said that the index was in its mid mid-January. The market was in a period of three months. Sohan mentioned that the benchmark was in mid-September.
