The Pakistan Stock Exchange (PSX) has been on a remarkable upward trajectory since September 2024, with the market delivering an impressive 35% return in both Pakistani Rupee and US Dollar terms. This surge is primarily attributed to a significant shift in investor sentiment, as local mutual funds – powered by inflows from banks – have injected a substantial Rs58 billion (US$207 million) into the market during this period. The influx of capital marks a notable transition from fixed income instruments to equities, reshaping the investment landscape in Pakistan.
According to a recent research report by the equity research team at Topline Securities, a Karachi-based investment bank, there are several reasons behind the market rally. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
