On Monday, Pakistan’s KSE-100 index experienced a remarkable resurgence, climbing nearly 1,200 points after a sluggish start and finishing above the 99,000 mark. This notable performance highlighted both the confidence of investors and the market’s resilience.
The banking sector led this upswing, with notable increases in shares such as HBL, NBP, MEBL, UBL, and MCB, which were crucial in driving the market higher. Additionally, the fertilizer and pharmaceutical sectors contributed significantly to the positive market sentiment.
This rally occurred against a backdrop of global optimism, despite ongoing political instability in the United States. Asian markets also saw an uptrend, boosted by a decline in US bond yields in light of the expected appointment of Scott Bessent as the new US Treasury Secretary. Moreover, US futures followed suit, adding to the overall positive market sentiment.
Asian markets gained momentum, supported by falling US bond yields that coincided with the anticipated selection of Scott Bessent as the next US Treasury Secretary. US futures also enjoyed an increase.
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