PSX stages strong recovery

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index surged by 1,299.79 points, or 1.18%, touching an intraday high of 111,622.72, while the lowest level of the session stood at 109,948.57, reflecting a positive shift in investor sentiment.Market analysts attributed Monday’s surge to attractive valuations and renewed investor confidence following recent corrections.

Experts, explained the shift in sentiment, saying: "In the past few weeks, we had observed selling pressure, but now the market has somewhat consolidated, and people have moved towards the buying side. Additionally, upcoming results are also providing support.”

“Due to the previous selling, stocks had already reached attractive levels, which has led to increased buying. Furthermore, the market will receive support from certain sectors and companies that are expected to report strong results. So, the combination of earnings season and buying activity is the reason behind this trend," they added.

This shift in momentum was evident in broad-based buying across multiple sectors, particularly in banking, cement, and energy stocks, which are expected to post strong earnings reports in the coming days.

Meanwhile, the Ministry of Finance and Revenue clarified reports regarding the International Monetary Fund’s (IMF) ongoing visit to Pakistan, emphasising that the mission is conducting a Governance and Corruption Diagnostic Assessment (GCDA).

According to a statement released on Sunday, the IMF’s visit aims to assess governance practices and anti-corruption measures.

The ministry highlighted that the IMF has long played a role in promoting public sector transparency, accountability, and economic governance. The ongoing assessment is part of broader efforts to ensure sustainable economic management.

SuchTV, 10 Feb, 2025 Visit to News Source Webpage

PSX stages strong recovery

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