The KSE-100 index marks historic highs, crossing 49,000 points in an impressive rally.
Record-Breaking Surge on the Stock Market
The benchmark KSE-100 index soared to new heights, surpassing its previous record set back in 2017.
At 11:30 AM, the index witnessed a remarkable ascent, gaining 640 points to reach an impressive 49,404, before settling at 49,232 by 12:15 PM, following an initial opening at 48,764.
Market Growth Spurred by IMF Agreement
Since Pakistan’s Stand-By Agreement with the International Monetary Fund (IMF) in July, the market has shown remarkable growth, gaining an impressive 7,686 points or 18.5 percent, according to Arif Habib Limited (AHL).
Positive Outlook Despite Overbought Condition
As the market demonstrates exceptional performance, analysts predict continued strength in blue chips, with major interest from investors in the Banking and Oil & Exploration sectors.
“AHL stated in an earlier note that any weakness due to profit-taking is expected, but a relapse under 48,562 would instill weakness to 48,445-48,340 points.”
