PSX scales new peak in robust week
Amid ongoing economic optimism, the stock market maintained a robust outlook, extending a surprise record-breaking spree in the last days of Ramazan by scaling a new peak in the outgoing short week. Arif Habib Ltd (AHL) said the market continued its positive momentum throughout the four-day trading week, hitting an all-time high above the 68,000 level. The market sentiment was fuelled by a sharp deceleration in inflation and rising expectations of an interest rate reversal. Moreover, cut-off yields on treasury bills remained unchanged in the three- and 12-month tenors while increasing by 101 basis points in the six-month tenor. In addition, the petroleum sales witnessed a jump of 4pc year-on-year and 3pc month-on-month. The rupee remained stable at Rs277.93 against the dollar, adding just two paise week-on-week. As a result, the KSE 100-share index closed at a record 68,417 points after adding 1,412 points or 2.11pc week-on-week.