Bullish trend at PSX as KSE-100 gains 500+ points in early trade

78

Karachi: Positive vibes coming from the Pakistan Stock Exchange as the benchmark KSE-100 index witnessed a bullish trend during the early day trading on Tuesday.

At around 11:00 am, the benchmark KSE-100 index had gained 518 points or 1.21%, to reach 43,345 points.

The positivity in the market is induced due to the decision taken by the State Bank’s Monetary Policy Committee to keep the key policy rate unchanged.

The State Bank of Pakistan on Monday decided to keep the policy rate unchanged at 15%.

Providing the reasons for the Monetary Policy Committee’s decision, a statement by the SBP said, “With recent inflation developments in line with expectations, domestic demand beginning to moderate and the external position showing some improvement due to a lower trade deficit and resumption of the IMF (International Monetary Fund) programme, the MPC felt that it was prudent to take a pause at this stage.”

Analysts believe that the market can start rallying from here. If political stability is maintained, the market can surpass the 45,000-points mark in the coming days.

Previous articleGold price up by Rs 3550/tola
Next articleContempt case: Show-cause notice issued to Imran Khan; summoned by IHC on Aug 31