The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) gained 609.18 points, equivalent to 0.98%, closing the market at the 63,002.91 level on Friday.
Peaks prevailed over dips during intraday trading, particularly in the afternoon. Even yesterday, investors near the day close preferred selecting the best-performing securities in the market.
“Value hunters opted to do some cherry picking which helped the benchmark index to close the day at 62,394”, said Topline Securities on Thursday.
The recent positive momentum of the country’s economy is also an encouraging sign for investors.
“Pakistan’s trade deficit clocked in at $1.9 billion down 25%YoY while up 7% MoM in Jan-2024, as per PBS data. Exports up 25% YoY whole down 1% MoM to $2.8bn. However, imports down 2% YoY while up 2% MoM to $4.7bn in Jan 2024. In 7MFY24, trade deficit down 33% YoY to $13.1bn vs $19.5bn in 7MFY23.” said Topline Securities.
The right strategy in the current economic revival times involves potential high gains for investors who capitalize on dips in the pre-election rally and maintain high hopes for an improved return in the post-election period.
