{"id":2029,"date":"2024-06-21T05:54:46","date_gmt":"2024-06-21T05:54:46","guid":{"rendered":"https:\/\/ventil.rs\/blog\/business\/bullish-spree-continues-as-psx-briefly-touches-80000-barrier-such-tv\/"},"modified":"2024-06-21T05:54:46","modified_gmt":"2024-06-21T05:54:46","slug":"bullish-spree-continues-as-psx-briefly-touches-80000-barrier-such-tv","status":"publish","type":"post","link":"https:\/\/ventil.rs\/blog\/business\/bullish-spree-continues-as-psx-briefly-touches-80000-barrier-such-tv\/","title":{"rendered":"Bullish spree continues as PSX briefly touches 80,000 barrier &#8211; SUCH TV"},"content":{"rendered":"<p> <br \/>\n<br \/><\/p>\n<div>\n<p style=\"text-align: justify;\">Bulls continued their stampede at the Pakistan Stock Exchange (PSX) on Friday as shares gained more than 1,200 points to briefly cross the 80,000 level \u2014 a day after it closed at a now-broken all-time high.<\/p>\n<\/div>\n<div>\n<p style=\"text-align: justify;\">The benchmark KSE-100 index gained 1238.54 points, or 1.57 per cent, to stand at 80,059.87 \u2014 a record high \u2014 from the previous close of 78,801.53 points at 9:47am.<\/p>\n<p style=\"text-align: justify;\">It, however, then receded to 78,847.57 at 11:36am \u2014 a gain of mere 46.04 points, or 0.06pc, from the previous close.<\/p>\n<p style=\"text-align: justify;\">Tahir Abbas, head of research at Arif Habib Limited, said, \u201cThe market continues its positive momentum as investors are optimistic about the new IMF programme, downward inflation, interest rates trajectory and flows converting from fixed income to equities.\u201d<\/p>\n<p style=\"text-align: justify;\">Mohammed Sohail, chief executive of Topline Securities, noted that the index had reached \u201canother record high\u201d, climbing by 99pc in a year.<\/p>\n<p style=\"text-align: justify;\">He attributed today\u2019s climb to \u201cpositive sentiments led by tax laden budget\u201d which investors feel will help in getting the long-term International Monetary Fund (IMF) loan.<\/p>\n<p style=\"text-align: justify;\">\u201cInvestors are optimistic about the macroeconomic stability that will create a favorable environment for monetary easing,\u201d Awais Ashraf, director research at AKD Securities, said, adding that this \u201csubsequently reduces the required rate of return for investors in the equity market\u201d.<\/p>\n<p style=\"text-align: justify;\">\u201cMoreover, the scarcity of other profitable investment opportunities, particularly in real estate and commodities, is also driving the recent KSE-100 rally,\u201d he added.<\/p>\n<p style=\"text-align: justify;\">On Thursday, analysts had attributed the post-Eid bullish momentum to the rating agencies\u2019 recent outlook for Pakistan.<\/p>\n<p style=\"text-align: justify;\">Raza Jafri, chief executive of EFG Hermes Pakistan, had highlighted Fitch\u2019s \u201cdovish view on inflation outlook and the proposed reduction in electricity tariffs for industries\u201d.<\/p>\n<p style=\"text-align: justify;\">Yousuf M Farooq, director of research at Chase Securities, had also mentioned that \u201ccomments from Fitch and Moody\u2019s have all contributed to\u201d yesterday\u2019s market rally.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.suchtv.pk\/business\/item\/127075-bullish-spree-continues-as-psx-briefly-touches-80-000-barrier.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bulls continued their stampede at the Pakistan Stock Exchange (PSX) on Friday as shares gained more than 1,200 points to briefly cross the 80,000 level \u2014 a day after it closed at a now-broken all-time high. The benchmark KSE-100 index gained 1238.54 points, or 1.57 per cent, to stand at 80,059.87 \u2014 a record high&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/ventil.rs\/blog\/business\/bullish-spree-continues-as-psx-briefly-touches-80000-barrier-such-tv\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;Bullish spree continues as PSX briefly touches 80,000 barrier &#8211; SUCH TV&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":2030,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.suchtv.pk\/media\/k2\/items\/cache\/dc6da01c1f3a83105394c510905453fa_XL.jpg?t=20240621_081518","fifu_image_alt":"","footnotes":""},"categories":[3],"tags":[1337,621,567],"class_list":["post-2029","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-bulls","tag-pakistan-stock-exchange","tag-psx"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.8 (Yoast SEO v22.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bullish spree continues as PSX briefly touches 80,000 barrier - SUCH TV - Breaking News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ventil.rs\/blog\/business\/bullish-spree-continues-as-psx-briefly-touches-80000-barrier-such-tv\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bullish spree continues as PSX briefly touches 80,000 barrier - SUCH TV\" \/>\n<meta property=\"og:description\" content=\"Bulls continued their stampede at the Pakistan Stock Exchange (PSX) on Friday as shares gained more than 1,200 points to briefly cross the 80,000 level \u2014 a day after it closed at a now-broken all-time high. The benchmark KSE-100 index gained 1238.54 points, or 1.57 per cent, to stand at 80,059.87 \u2014 a record high...Read More &ldquo;Bullish spree continues as PSX briefly touches 80,000 barrier &#8211; SUCH TV&rdquo; &raquo;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ventil.rs\/blog\/business\/bullish-spree-continues-as-psx-briefly-touches-80000-barrier-such-tv\/\" \/>\n<meta property=\"og:site_name\" content=\"Breaking News\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-21T05:54:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.suchtv.pk\/media\/k2\/items\/cache\/dc6da01c1f3a83105394c510905453fa_XL.jpg?t=20240621_081518\" \/><meta property=\"og:image\" content=\"https:\/\/www.suchtv.pk\/media\/k2\/items\/cache\/dc6da01c1f3a83105394c510905453fa_XL.jpg?t=20240621_081518\" \/>\n<meta name=\"author\" content=\"Admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.suchtv.pk\/media\/k2\/items\/cache\/dc6da01c1f3a83105394c510905453fa_XL.jpg?t=20240621_081518\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ventil.rs\/blog\/business\/bullish-spree-continues-as-psx-briefly-touches-80000-barrier-such-tv\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ventil.rs\/blog\/business\/bullish-spree-continues-as-psx-briefly-touches-80000-barrier-such-tv\/\"},\"author\":{\"name\":\"Admin\",\"@id\":\"https:\/\/ventil.rs\/blog\/#\/schema\/person\/8b364f5cc7fbc8705a888e63db8c026a\"},\"headline\":\"Bullish spree continues as PSX briefly touches 80,000 barrier &#8211; 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The benchmark KSE-100 index gained 1238.54 points, or 1.57 per cent, to stand at 80,059.87 \u2014 a record high...Read More &ldquo;Bullish spree continues as PSX briefly touches 80,000 barrier &#8211; SUCH TV&rdquo; &raquo;","og_url":"https:\/\/ventil.rs\/blog\/business\/bullish-spree-continues-as-psx-briefly-touches-80000-barrier-such-tv\/","og_site_name":"Breaking News","article_published_time":"2024-06-21T05:54:46+00:00","og_image":[{"url":"https:\/\/www.suchtv.pk\/media\/k2\/items\/cache\/dc6da01c1f3a83105394c510905453fa_XL.jpg?t=20240621_081518"},{"url":"https:\/\/www.suchtv.pk\/media\/k2\/items\/cache\/dc6da01c1f3a83105394c510905453fa_XL.jpg?t=20240621_081518"}],"author":"Admin","twitter_card":"summary_large_image","twitter_image":"https:\/\/www.suchtv.pk\/media\/k2\/items\/cache\/dc6da01c1f3a83105394c510905453fa_XL.jpg?t=20240621_081518","twitter_misc":{"Written by":"Admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ventil.rs\/blog\/business\/bullish-spree-continues-as-psx-briefly-touches-80000-barrier-such-tv\/#article","isPartOf":{"@id":"https:\/\/ventil.rs\/blog\/business\/bullish-spree-continues-as-psx-briefly-touches-80000-barrier-such-tv\/"},"author":{"name":"Admin","@id":"https:\/\/ventil.rs\/blog\/#\/schema\/person\/8b364f5cc7fbc8705a888e63db8c026a"},"headline":"Bullish spree continues as PSX briefly touches 80,000 barrier &#8211; 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