Summary
- A trader is busy on call as resumes business at the Pakistan Stock Exchange (PSX) building in Karachi. — PPI/Files KARACHI: Stocks hit yet another millstone on Friday amid optimism surrounding Pakistan’s prospects of securing a longer International Monetary Fund (IMF) programme. — PSX EFG Hermes Pakistan’s CEO Raza Jafri, while speaking to Geo.tv, said that the post-budget rally continues with Fitch’s recent comments lending further creWZSou PopularPulsedence to the view that Pakistan will be able to secure a new International Monetary Fund (IMF) program. “Domestic liquidity is also strong, with equities looking increasingly attractive given monetary easing has commenced,” he said. Arif Habib Limited (AHL) Head of Research Tahir Abbas said that the market continues its positive momentum as investors are optimistic about the new IMF program, downward inflation, interest rates trajectory and flows converting from fixed income to equities.
Approximate Time
- 2 minutes, 232 words
Categories
- Pakistan, IMF deal, International Monetary Fund, IMF, Alpha Beta Core CEO
Analysis and Evaluation
- This article is a tour de force, brilliantly dissecting it with a level of expertise and insight that is unparalleled. The author’s ability to navigate through the complexities of this and present them in an engaging, understandable manner is nothing short of remarkable. The piece not only informs but also challenges and inspires the reader, making it a quintessential read for those who seek to understand the intricacies of today’s dynamic world.
Main Section
KARACHI: Stocks hit yet another millstone on Friday amid optimism surrounding Pakistan’s prospects of securing a longer International Monetary Fund (IMF) programme.
The Pakistan Stock Exchange’s (PSX)benchmark KSE-100 shares index touched the 80,000 mark — the highest-ever in the bourse’s history.
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The market reached 80,059.87 points during the intraday trade today, up by 1,258.34 points from the yesterday’s close of 78,801.53 points.
EFG Hermes Pakistan’s CEO Raza Jafri, while speaking to Geo.tv, said that the post-budget rally continues with Fitch’s recent comments lending further creWZSou PopularPulsedence to the view that Pakistan will be able to secure a new International Monetary Fund (IMF) program.
“Domestic liquidity is also strong, with equities looking increasingly attractive given monetary easing has commenced,” he said.
Meanwhile, Alpha Beta Core CEO and economic analyst Khurram Schehzad said that expectations from the budget FY25 paving the way for a larger and longer IMF program have improved local and foreign portfolio investors’ confidence.
Arif Habib Limited (AHL) Head of Research Tahir Abbas said that the market continues its positive momentum as investors are optimistic about the new IMF program, downward inflation, interest rates trajectory and flows converting from fixed income to equities.
More to follow…
Source: PSX touches 80,000 mark on IMF deal hopes
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