{"id":81449,"date":"2024-05-13T09:52:07","date_gmt":"2024-05-13T09:52:07","guid":{"rendered":"https:\/\/nationaltimes.pk\/eng\/?p=81449"},"modified":"2024-05-13T09:52:07","modified_gmt":"2024-05-13T09:52:07","slug":"bulls-dominate-psx-as-kse-100-crosses-74000-mark-during-intraday-trade","status":"publish","type":"post","link":"https:\/\/nationaltimes.pk\/eng\/2024\/81449\/","title":{"rendered":"Bulls dominate PSX as KSE-100 crosses 74,000 mark during intraday trade"},"content":{"rendered":"\n<p>KARACHI (National Times) Bulls dominated the Pakistan Stock Exchange (PSX) on Monday as the market achieved a new milestone by crossing the 74,000 mark.<\/p>\n\n\n\n<p>The benchmark KSE-100 index shot up to 74,086.54 points during the intraday trading, up by 1,001.04 points or 1.37% from the previous close of 73,085.50 points.<br>Raza Jafri, CEO, EFG Hermes Pakistan, speaking to Geo.tv said that there is a growing confidence in the market that the next monetary policy due on June 10 will see an interest rate cut and there is a comfort on the rupee&#8217;s outlook as well.<\/p>\n\n\n\n<p>&#8220;This is resulting in investor interest in hitherto underperforming sectors such as cement, steel, and pharmaceuticals which are driving the next leg of the rally,&#8221; said the analyst.<\/p>\n\n\n\n<p>Meanwhile, Intermarket Securities Director Research Muhammad Saad Ali, CFA, said that the market optimism was driven by a broadly positive International Monetary Fund (IMF) review report released last Friday.<\/p>\n\n\n\n<p>Ali added that the global lender has commended Pakistan&#8217;s progress towards achieving greater macro stability.<\/p>\n\n\n\n<p>Last week, stocks rose to a record finish with KSE-100 closing above the 73,000 mark for the first time, as investors cheered robust remittance data and a decline in inflation figures.<\/p>\n\n\n\n<p>The PSX gained 427.45 points or 0.59% to close at 73,085.50 points on Friday.<\/p>\n\n\n\n<p>\u201cStocks closed at an all-time high in the pre-budget rally at the PSX after robust data on $2.81 billion remittances surged by 28% year-on-year in April,&#8221; said analyst Ahsan Mehanti at Arif Habib.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>KARACHI (National Times) Bulls dominated the Pakistan Stock Exchange (PSX) on Monday as the market achieved a new milestone by crossing the 74,000 mark. The benchmark KSE-100 index shot up to 74,086.54 points during the intraday trading, up by 1,001.04 points or 1.37% from the previous close of 73,085.50 points.Raza Jafri, CEO, EFG Hermes Pakistan, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":81450,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-81449","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bulls dominate PSX as KSE-100 crosses 74,000 mark during intraday trade - Nation<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationaltimes.pk\/eng\/2024\/81449\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bulls dominate PSX as KSE-100 crosses 74,000 mark during intraday trade - Nation\" \/>\n<meta property=\"og:description\" content=\"KARACHI (National Times) Bulls dominated the Pakistan Stock Exchange (PSX) on Monday as the market achieved a new milestone by crossing the 74,000 mark. The benchmark KSE-100 index shot up to 74,086.54 points during the intraday trading, up by 1,001.04 points or 1.37% from the previous close of 73,085.50 points.Raza Jafri, CEO, EFG Hermes Pakistan, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationaltimes.pk\/eng\/2024\/81449\/\" \/>\n<meta property=\"og:site_name\" content=\"Nation\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-13T09:52:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/05\/Untitled-3-copy.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"670\" \/>\n\t<meta property=\"og:image:height\" content=\"370\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"humza Jahangir\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"humza Jahangir\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/81449\/\",\"url\":\"https:\/\/nationaltimes.pk\/eng\/2024\/81449\/\",\"name\":\"Bulls dominate PSX as KSE-100 crosses 74,000 mark during intraday trade - Nation\",\"isPartOf\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/81449\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/81449\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/05\/Untitled-3-copy.jpg\",\"datePublished\":\"2024-05-13T09:52:07+00:00\",\"author\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/27efa35fa76e99f3ad7e7397d7332c16\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/81449\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationaltimes.pk\/eng\/2024\/81449\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/81449\/#primaryimage\",\"url\":\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/05\/Untitled-3-copy.jpg\",\"contentUrl\":\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2024\/05\/Untitled-3-copy.jpg\",\"width\":670,\"height\":370},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2024\/81449\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationaltimes.pk\/eng\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bulls dominate PSX as KSE-100 crosses 74,000 mark during intraday trade\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#website\",\"url\":\"https:\/\/nationaltimes.pk\/eng\/\",\"name\":\"Nation\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationaltimes.pk\/eng\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/27efa35fa76e99f3ad7e7397d7332c16\",\"name\":\"humza Jahangir\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/43feedd99bd6a90080d1621b7e6604364acb673ee979d3ffe5075557c14c68b9?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/43feedd99bd6a90080d1621b7e6604364acb673ee979d3ffe5075557c14c68b9?s=96&d=mm&r=g\",\"caption\":\"humza Jahangir\"},\"url\":\"https:\/\/nationaltimes.pk\/eng\/author\/humza\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bulls dominate PSX as KSE-100 crosses 74,000 mark during intraday trade - Nation","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationaltimes.pk\/eng\/2024\/81449\/","og_locale":"en_US","og_type":"article","og_title":"Bulls dominate PSX as KSE-100 crosses 74,000 mark during intraday trade - Nation","og_description":"KARACHI (National Times) Bulls dominated the Pakistan Stock Exchange (PSX) on Monday as the market achieved a new milestone by crossing the 74,000 mark. 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