PSX scales new peak as KSE-100 index breaks 94,000 barrier
Business
Policy rate cut helped lift investors' confidence
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) on Monday made history as the KSE-100 index crossed 94,000 points barrier.
The benchmark KSE-100 index crossed 94,000 mark after gaining more than 700 points against previous close of 93,291 points.
The ongoing bulls’ rally in the PSX with significant gains of over 2,400 points during the last week, has been driven predominantly by the State Bank of Pakistan's (SBP) decision to lower its policy rate by 2.5 percentage points.
Market analysts believe that the rate cut gave a positive signal for liquidity and economic stability, boosting investors’ confidence.
Moreover, the government's Sukuk auction helped raise a satisfactory amount, making it lucrative for investors to invest in the government-backed securities
