PSX hits historic 191,000 points amid hopes of policy rate cut
Business
PSX continues its record-breaking run, surpassing 191,000 points as KSE-100 index rises 1,800+ points. Meanwhile, the SBP is set to announce its monetary policy, with hopes for a rate cut
KARACHI (Dunya News) – The record-breaking trend at the Pakistan Stock Exchange (PSX) continues, as the market has achieved another milestone on Monday amid hopes for a cut in policy rate.
On the first day of the trading week, the KSE-100 index witnessed a massive surge of over 1,800 points, pushing it to surpass the 191,000 points mark for the first time in history.
During the trading session, the index reached its highest level at 191,032 points, marking an all-time high.
This follows the previous week's strong performance, where the KSE-100 index closed with an increase of 1,478 points, ending the week at 189,166 points.
Meanwhile, the State Bank of Pakistan (SBP) is set to announce its monetary policy today on Monday with business community hoping for a cut in the rate.
The Monetary Policy Committee is scheduled to meet at 10:30 am under the chairmanship of the SBP governor to make the final decision regarding the key interest rate. The policy announcement will set the interest rate for the next two months.
At present, the key interest rate stands at 10.5 percent. In the previous meeting, the committee had reduced the rate by 50 basis points.
The committee will also review various economic indicators, including imports, exports, large-scale manufacturing, and trade and fiscal deficits. Additionally, factors such as remittances, foreign exchange reserves, crop production, and global oil prices will also be assessed.
