New monetary policy fails to avoid fluctuation in PSX

KARACHI: The Pakistan Stock Exchange (PSX) ended yesterday’s (Tuesday) trading session with a decline of 198.94 points, at 78,628.80 points. This comes after 798.24 points growth on Monday.

The benchmark KSE-100 index fluctuated within a range of 808.81 points, touching the day’s highest at 79,327.04 points and hitting the day’s lowest at 78,518.23 points on Tuesday.

New monetary policy offers much needed strength to the stock market

Monday’s growth came amid expectations of a concessionary monetary policy. The State Bank of Pakistan (SBP) announced 100 basis points decrease in interest rates on Monday, down from 20.5 per cent to 19.5 per cent.

Yesterday morning experienced some positive momentum as a result of that, but eventually turned negative once again.