Indian benchmarks set for muted start; pharma stocks in focus

Indian markets surged, though the FPI and DII numbers were muted, which means that non-institutional buying was the major prop for the Indian markets. This morning, futures are tepid, but if the buying is coming from domestic retail and domestic HNI prop desks, then it should continue

Ajay Bagga, Banking and Market Expert, told ANI

Today's sharp surge in the stock market stems from a powerful convergence of bullish triggers that have swiftly turned investor sentiment from fear to opportunity,

Sana Tawfiq, head of research at Arif Habib Limited, Pakistan's largest securities brokerage, told AFP

This positive shift is reinforced by the IMF's dual approvals, providing both critical funding and international validation of Pakistan's reform path,

Tawfiq added

We are very pleased today that the market has performed extremely well,

Ahmed Chinoy, director of the Pakistan Stock Exchange Limited, told AFP, while celebrating by cutting a cake with brokers

While optimistic, sustaining momentum requires ceasefire compliance, accelerated reforms, and managing global headwinds like oil prices,

senior economist Sanie Khan told AFP

All major sectors contributed to the rally, with IT, realty, and metals leading the gains. The broader markets also mirrored this strength, each advancing close to 4 per cent,

he said

The ceasefire between India and Pakistan has paved the way for a sharp rally in the market. The prime mover of the rally will be the FII buying which has been sustained for 16 continuous days except last Friday when the conflict escalated."

V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said

Assuming the ceasefire is adhered to by both countries, we keep all our macro forecasts unchanged,

Barclays said in a note

Indian futures are pointing to a sharp 2 per cent up-move, as all the losses due to the India-Pak kinetic conflict are made up on the back of the cessation of active hostilities in the region. Indian markets weathered the turbulence quite well and are set to recover smartly today,

Ajay Bagga, Banking and Market Expert, told ANI