On Monday, Pakistan’s KSE-100 index witnessed a remarkable recovery, surging close to 1,200 points following a lackluster beginning and concluding above the 99,000 threshold. This significant accomplishment underscored both investor confidence and the market’s robustness.
The banking sector spearheaded this rise, with substantial gains in stocks such as HBL, NBP, MEBL, UBL, and MCB, playing a key role in propelling the market upward. Furthermore, the fertilizer and pharmaceutical sectors made a considerable contribution to the favorable market outlook.
This surge unfolded amidst a climate of global positivity, notwithstanding persistent political uncertainty in the United States. Asian markets also experienced an upward trend, buoyed by a decrease in US bond yields due to the anticipated appointment of Scott Bessent as the upcoming US Treasury Secretary. Additionally, US futures mirrored this momentum, enhancing the overall optimistic market atmosphere.
Asian markets gathered energy, aided by declining US bond yields that paralleled the expected nomination of Scott Bessent as the next US Treasury Secretary. US futures also benefited from an upswing.
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