The Pakistan Stock Exchange (PSX) began the week positively, with bulls pushing the market higher by more than 850 points, reflecting strong investor confidence and robust buying activity.
During intra-day trading on Monday, the benchmark KSE-100 index surged by 878.58 points, or 0.98%, reaching 90,872.54 points, a significant rise from the previous close of 89,993.96 points.
Analysts attributed the surge to a host of reasons, as the market expects a cut in interest rates next month.
Sana Tawfik, Head of Research at Arif Habib Limited, told Thenews.com.pk that the rise was due to the result season as well as the country’s improved liquidity.
Arif Habib’s economist Ahsan Mehanti said that investors speculate over an expected major cut in the policy rate by the State Bank of Pakistan (SBP). For him, another reason for the drive was government deliberation on privatisation of state-owned enterprises.
This is a developing story and is being updated with more details.
