PSX gains momentum amid positive macroeconomic conditions

The benchmark KSE-100 index climbed 2,920.68, or 2.62 per cent, to stand at 114,271.85 from the previous close of 111,351.17 at 2:18pm.

Experts attributed today’s movement to be driven by the year ending “as institutions aim to close their portfolios at higher rates”.

Additionally, he highlighted that the “successful rollover” of approximately Rs55 billion in futures was contributing to this trend.

“We believe, KSE-100 Index is set to post another year of strong returns, as interest rates are anticipated to fall to single digits in 2025 due to a strong external account,” they said.

“Falling returns from alternative investments are expected to make equities the preferred asset class in 2025,” they added.

On Sunday, while talking about achieving sustainable growth, the finance minister noted that inflation had slowed down to nearly 5pc, with the interest rate down to 13pc.

“These are all the things that indicate that the wheel of the economy has started moving and I would be the last person to say that we have achieved whatever we said — however, in the last six months the macroeconomic stability which makes the foundation is there so that we can achieve sustainable growth,” he said.

However, he cautioned that the country was still an “import-led economy” and it was critical to ensure that they headed towards export-led growth, adding that they had created the foundation where in 2025 they could head towards sustainable growth.

SuchTV, 30 Dec, 2024 Visit to News Source Webpage

PSX gains momentum amid positive macroeconomic conditions

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