
Bulls returned to the Pakistan Stock Exchange (PSX) on Monday as shares climbed more than 900 points in intraday trade.
The benchmark KSE-100 index climbed 949.56, or 0.83 per cent, to stand at 115,802.89 from the previous close of 114,853.33 at 12:47pm.
Yousuf M. Farooq, director research at Chase Securities, said, “The market took a breather today, buoyed by the weekend announcement of tariff exemptions for China, which helped lift global sentiment.”
Locally, he highlighted that the receipt of over $4 billion in remittances for March propelled market sentiment.
“Additionally, inflation expectations have declined over the past month, leading an increasing number of participants to anticipate interest rate cuts in the near term,” he noted.
“A reduction in interest rates could drive an upward rerating in equities.”
Mohammed Sohail, chief executive of Topline Securities, also attributed the bullish momentum to better-than-expected remittances.
“Moreover — with regional markets up today — local investors have also started taking fresh positions,” he added.
More to follow