Stock market opens on a positive note after SBP’s announcement

KARACHI: The Pakistan Stock Exchange (PSX) wrapped up last week on a downward trend, with the benchmark KSE-100 index shedding nearly 250 points on Friday. On Monday (yesterday), the index posted negligible gains through the day.

On Tuesday (today) however, the index opened on a positive note owing to the central bank’s decision to keep the policy rate unchanged yesterday.

SBP keeps policy rate unchanged at 22 per cent

The index opened at 64,890.50 points, and quickly jumped to 65,053.36 points before losing some of those gains to hover at 64,940.17 points half an hour into trading.

Telecom companies seemed to have taken over the upward movement of the bourse, with WTL as the only conspicuous red stock by 9:30 AM.