Pakistan Stock Exchange (PSX) continued its bullish momentum throughout the week ended on October 04 2024. With expectation of further interest rate cut and IMF’s EFF approval the benchmark KSE-100 index gained 2,240 points or 2.76%WoW to close at 83,532 points.
Overall, the bullish sentiments were driven by high dividend yielding sectors that included Fertilizers and E&P, as falling fixed-income yields led to a rerating of these sectors.
CPI dropped down 6.93%YoY in September 2024 since January 2021. Additionally, in the auction held on October 02, the yields for the 6-month and 12-month T-Bills decreased by 334 and 326 bps, respectively.
Trade balance for September 2024 posted US$1.78 billion deficit.
OMCs’ aggregate........