KARACHI (Dunya News) – Pakistan Stock Exchange (PSX) on Wednesday extended gains to reach another historic high amid expectations of a cut in policy rate.
The KSE-100 benchmark index surged by over 700 points to hit all-time high of 189,427 points during intraday trading compared to previous close of 188,621.78 points. The State Bank of Pakistan (SBP) will announce the revised interest rate for next two months on January 26.
A day earlier, the benchmark index continued its upward momentum and closed bullish, gaining 860.09 points, a rise of 0.46 percent, to settle at 188,621.78 points as compared to 187,761.69 points on the previous trading day, according to PSX data.
During the session, the ready market recorded a trading volume of 1,225.807 million shares with a traded value of Rs 63.897 billion, against 1,198.656 million shares valuing Rs 63.800 billion in the previous session.
Out of 487 active companies in the ready market, 240 advanced, 213 declined, while 34 remained unchanged.