Maintaining its bullish run from the preceding sessions, the benchmark index of the Pakistan Stock Exchange (PSX) crossed the 62,000 milestone on Monday on expectations of a reduction in interest rates.
According to the PSX website, the KSE-100 index struck 62,401.94 at 9:40am, up 710.69 points or 1.15 per cent, from the previous close of 61,691.25.
Raza Jafri, head of equity at Karachi-based brokerage firm Intermarket Securities, said the market was anticipating a cut in interest rates during the monetary policy meeting due on December 12.
He highlighted that most PSX activity was reported in “cheap energy names, as monetary easing seems a matter of when and not if”.
More to follow
