Stock Watch: Why did bulls take control at PSX?

Investors were jubilant as the KSE-100 index roared past the 90,000 level on intra-day basis and closed the week just shy of that psychological barrier. This is a gain of 4,744 points or 5.5 percent!

The stock market was pricing in a number of positives that include political and macro-economic stability, higher corporate profitability, and re-rating.

Market analysts are of the view that the stock market is still trading at a PE (Price Earning) multiple of less than 5 times and could further re-rate in the coming days.

The rally was broad based, however, Oil and Gas Exploration, Banks, and Cement stocks posted handsome gains this week.