Karachi (TDI): The Pakistan Stock Exchange (PSX) has returned 35% in terms of both rupee and USD due to strong net inflows via local mutual funds since September 2024 to date.
This was stated by Topline Securities in its Friday’s note on the stock market’s performance.
Read More: PSX Hits Historical High, PM Congratulates Nation
According to the country’s one of the largest brokerage houses, investors are converting from fixed income to equities due to a massive reduction in interest rates over the past few months.
The firm highlighted that rates on 12M and 6M Treasury Bills, which were 24.73% and 24.51% in September 2023, have now dropped massively to 12.20% and 11.9%, as of December 19, 2024.
Read More: PSX Rebounds with 3,741-Point Surge
On the other hand, the PSX closed on a positive trajectory on Friday, despite extensive sell-offs at the beginning of the week.
As the session began on Friday, the KSE-100 index rebounded, gaining 3,238 points (2.96%) to close at 109,513 points. This recovery followed two sessions where the index lost over 8,500 points.
