The Pakistan Stock Exchange crossed the 154,000 mark on Friday, with analysts citing trade deals from Prime Minister Shehbaz Sharif\u2019s China visit and expectations of higher cement sales from post-flood reconstruction as reasons behind the bullish trend.<\/p>\n\n\n\n
The KSE-100 index rose by 1,611.47 points, or 1.06 percent, to close at 154,277.19, compared to the previous close of 152,665.72.<\/p>\n\n\n\n
Jibran Sarfaraz, a stocks dealer at Munir Khanani Securities, said Pakistan\u2019s opportunity to boost exports through lower tariffs compared to neighboring countries has contributed to the market\u2019s upward trajectory.<\/p>\n\n\n\n
\u201cThen came the floods, which, being a natural disaster, caused significant losses especially as crops were destroyed,\u201d he told Arab News.<\/p>\n\n\n\n
\u201cAt the same time, the positive side is that reconstruction will create higher demand for steel and cement, boosting their sales,\u201d he continued.<\/p>\n\n\n\n
\u201cThe Pakistani PM\u2019s visit to China has raised expectations of further trade between both the countries, and on the international stage, Pakistan\u2019s profile has been elevated.\u201d<\/p>\n\n\n\n
Sarfaraz added that resolving tariff issues with the US and easing tensions with India have also helped the market gain momentum in recent weeks.<\/p>\n\n\n\n
\u201cAfter that, we saw the market continue to grow, with strong performances from the banking, steel, pharma and textile sectors,\u201d he added.<\/p>\n\n\n\n
Meanwhile, Ahsan Mehanti, CEO of Arif Habib Commodities, attributed the market\u2019s performance to the government\u2019s approval for resuming subsidies on fully funded remittances to support rupee stability.<\/p>\n\n\n\n
These subsidies refer to reimbursements to banks and exchange companies on eligible inward remittances, making it possible for them to offer nominal or no fees to senders while covering their own costs.<\/p>\n\n\n\n
He also mentioned another factor for the market surge, involving the energy regulator, NEPRA, possible cuts to industrial electricity tariffs that can bring down production costs.<\/p>\n\n\n\n
\u201cNepra hints over negative industrial tariff adjustments, speculations over government resolve to settle power sector circular debt crises played catalyst role in bullish close at PSX,\u201d he said.<\/p>\n\n\n\n
Pakistan and China signed 21 memorandums of understanding and joint ventures worth $4.2 billion to boost business cooperation in various sectors during Sharif\u2019s visit this week.<\/p>\n\n\n\n
At the same time, floods have devastated Punjab, Pakistan\u2019s most populous province, killing 49 people so far and destroying large areas of cropland.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Pakistan Stock Exchange crossed the 154,000 mark on Friday, with analysts citing trade deals from Prime Minister Shehbaz Sharif\u2019s China visit and expectations of higher cement sales from post-flood reconstruction as reasons behind the bullish trend. The KSE-100 index rose by 1,611.47 points, or 1.06 percent, to close at 154,277.19, compared to the previous […]<\/p>\n","protected":false},"author":2,"featured_media":123,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,1],"tags":[],"class_list":{"0":"post-122","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-international","8":"category-pakistan"},"_links":{"self":[{"href":"https:\/\/qeyadat.pk\/en\/wp-json\/wp\/v2\/posts\/122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qeyadat.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qeyadat.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qeyadat.pk\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/qeyadat.pk\/en\/wp-json\/wp\/v2\/comments?post=122"}],"version-history":[{"count":1,"href":"https:\/\/qeyadat.pk\/en\/wp-json\/wp\/v2\/posts\/122\/revisions"}],"predecessor-version":[{"id":124,"href":"https:\/\/qeyadat.pk\/en\/wp-json\/wp\/v2\/posts\/122\/revisions\/124"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qeyadat.pk\/en\/wp-json\/wp\/v2\/media\/123"}],"wp:attachment":[{"href":"https:\/\/qeyadat.pk\/en\/wp-json\/wp\/v2\/media?parent=122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qeyadat.pk\/en\/wp-json\/wp\/v2\/categories?post=122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qeyadat.pk\/en\/wp-json\/wp\/v2\/tags?post=122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}