New monetary policy offers much needed strength to the stock market

KARACHI: Yesterday (Monday), the KSE-100 Index closed at 78,827.74, up by 798.24 points or 1.02 per cent from the opening position. A major chuck of this growth in the Pakistan Stock Exchange (PSX) can be attributed to the announcement of the new monetary policy.

PSX closes on positive note with KSE-100 up nearly 800 points

Yesterday, the State Bank of Pakistan (SBP) announced 100 basis points decrease in the interest rates, offering much needed respite for potential investors. The rate cut comes amidst expectations of lowering inflation and strong foreign reserves.

Today (Tuesday), the index opens with a quick moderate increase of 85 points by 9:45 AM. The index is expected to maintain strength and reverse some of the losses from the previous few weeks.