\u201cA lot of SOEs that generally traded cheaply are realising their market-based values,\u201d says analyst
\n Islamabad
\nThe equity market extended its rally on Monday, climbing past the 156,000 level in intraday trade to set another all-time high as investors responded positively to fresh liquidity and policy-driven optimism.
\nThe Pakistan Stock Exchange\u2019s (PSX) benchmark KSE-100 Index settled at 156,087.30 points, up 1,810.11 points, or 1.17%, from the previous close of 154,277.19.
\nDuring the session, the index climbed to an intraday high of 156,080.79 points, gaining 1,922.09 points, or 1.25%, while touching a low of 154,944.87 points, up 667.68 points, or 0.43%, from the previous close of 154,277.19.
\n\u201cA successful SCO meeting, the impending circular debt resolution, along with ample liquidity in the market, is the driving force behind the rally,\u201d said Ahfaz Mustafa, CEO of Ismail Iqbal Securities.
\n\u201cA lot of SOEs that generally traded cheaply are realising their market-based values and causing the rally,\u201d he added.
\nPrime Minister Shehbaz Sharif expressed satisfaction over the market\u2019s record-breaking performance, noting that the KSE-100 crossing the 156,000 level reflects traders\u2019 and investors\u2019 confidence in government policies. He said the journey of national development continues due to the hard work of the economic team.
\nThe prime minister highlighted that the signing of agreements and MoUs worth billions of dollars between the Chinese private sector and Pakistani firms will establish industries, boost exports, and create employment opportunities.
\nHe further said that the efforts of the economic team in improving the country\u2019s economic direction were commendable.
\nPM Shehbaz on Thursday assured Chinese investors of the swift removal of red tape in investment procedures as Pakistan and Chinese firms signed 21 memorandums of understanding worth $4.2 billion.
\nThe government also formally launched the second phase of the China-Pakistan Economic Corridor (CPEC 2.0) during the Pakistan-China B2B Investment Conference in Beijing.
\nOn the fiscal side, the government raised Rs654 billion through the auction of fixed-rate Pakistan Investment Bonds (PIBs) on Friday, surpassing the Rs400 billion target.
\nThe cut-off yield on two-year PIBs increased by 11 basis points to 11.1973%, while yields on 10-year and 15-year papers fell by 11 and 7 bps, respectively, to 12.04% and 12.38%. Yields on three-year and five-year papers remained steady at 11.14% and 11.4395%.
\nOn Friday, the KSE-100 surged by 1,611.47 points, or 1.06%, to 154,277.19 points from 152,665.72 points in the previous session. The index touched a high of 154,511.32 points and a low of 153,129.78 points.<\/p>\n","protected":false},"excerpt":{"rendered":"
\u201cA lot of SOEs that generally traded cheaply are realising their market-based values,\u201d says analyst Islamabad The equity market extended its rally on Monday, climbing past the 156,000 level in intraday trade to set another all-time high as investors responded positively to fresh liquidity and policy-driven optimism. The Pakistan Stock Exchange\u2019s (PSX) benchmark KSE-100 Index […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-501718","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n