KARACHI: Pakistan stock market has maintained booming rally on the eighth successive day on Monday.
Pakistan Stock Exchange (PSX) benchmark KSE-100 Index surged by another 700 points to a six-month high above 36,650 points in intra-day trading at around 12:25pm.
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“The market is up on IMF satisfaction over Pakistan economic trajectory and Islamabad successfully averted the chances of being downgraded by MSCI last week,” JS Securities Head of Equity Sales Farhan Rizvi said while talking to media. Market watch: Stocks rally as index surpasses 35,000 points
The benchmark index gained over 2,800 points or over 8% in the past eight consecutive days including today’s one in progress.
The third and most important factor for the rally is “share prices falling to attractive levels,” the analyst added.
“Pakistan is the most discounted market these days with foreign and local institutional and individual investors taking fresh positions,” he said.
Foreign and local institutional and individual investors are taking fresh positions these days.
