PSX nears yet another milestone

The benchmark of listed companies hit another all-time high on Thursday, thanks to the improving macroeconomic outlook following the successful review of the International Monetary Fund (IMF) programme. Topline Securities Ltd said the session commenced on a buoyant note and the momentum remained strong throughout the day. Market participants opted to switch their positions by booking profits in energy sector stocks namely Oil and Gas Development Company Ltd, Pakistan Petroleum Ltd, the Hub Power Company Ltd and Pakistan State Oil Company Ltd against the backdrop of declining international oil prices. Subsequently, technology and banking sector stocks like Meezan Bank Ltd, Systems Ltd, TRG Pakistan Ltd, Habib Metropolitan Bank Ltd and Bank Alfalah Ltd received rejuvenated buying interest. According to Arif Habib Ltd, technology sector stocks should remain in the limelight as the KSE-100 index moves closer to 60,000 points.