{"id":71093,"date":"2024-03-14T10:06:06","date_gmt":"2024-03-14T10:06:06","guid":{"rendered":"https:\/\/pakistaninewspaperlist.com\/news\/shares-at-psx-reverse-losses-up-more-than-1000-points-on-hopes-of-rate-cut\/"},"modified":"2024-03-14T10:06:06","modified_gmt":"2024-03-14T10:06:06","slug":"shares-at-psx-reverse-losses-up-more-than-1000-points-on-hopes-of-rate-cut","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/shares-at-psx-reverse-losses-up-more-than-1000-points-on-hopes-of-rate-cut\/","title":{"rendered":"Shares at PSX reverse losses, up more than 1,000 points on hopes of rate cut"},"content":{"rendered":"<p><\/p>\n<div dir=\"auto\">\n<p>After two consecutive sessions of selling pressure, some positivity returned to the Pakistan Stock Exchange (PSX) on Thursday after it gained more than 1,000 points in intraday trade.<\/p>\n<p>The KSE-100 index gained by 1,015.82 points, or 1.59 per cent, to close at 65,064.26 from the previous close of 64,048.44.<\/p>\n<p>Yousuf M. Farooq, director of research at Chase Securities, attributed the bullish momentum to \u201cimproved clarity on the political and economic fronts\u201d.<\/p>\n<p>Farooq recounted the new finance minister\u2019s interview with <em>Geo News<\/em> last night where he \u201carticulated a clear plan for the economy going forward and emphasised that the first quarter of year showed notable improvements in stability compared to last year\u201d.<\/p>\n<p>He added, \u201cThe market has responded positively to the minister\u2019s optimistic and prudent statements yesterday.<\/p>\n<p>\u201cSome participants are now anticipating a rate cut on March 18th, marking a departure from previous monetary policy expectations where rate cuts were not anticipated,\u201d he said.<\/p>\n<figure class=\"media  w-full  w-full  media--stretch  media--embed  \">\n<p><div class=\"ast-oembed-container \" style=\"height: 100%;\"><iframe title=\"Newly elected Finance Minister Muhammad Aurangzeb&#039;s first interview on Geo News\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/4C3Cnb4rBjk?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/p>\n<\/figure>\n<p>In the interview on <em>Geo News<\/em>, the finance minister reiterated the need to get \u201cour house in order by reducing government expenditure\u201d. He further emphasised that it was necessary to move toward [attracting] investment, as the \u201cfriendly countries want to help us but not through aid\u201d.<\/p>\n<p>When asked about the International Monetary Fund (IMF), the finance minister remained clear on concluding the IMF programme to \u201cget the $1.1 billion tranche released\u201d.<\/p>\n<p>Awais Ashraf, director of research at Akseer Research, echoed the sentiments on the rate cut.<\/p>\n<p>\u201cThe expectations of monetary easing \u2014 as indicated by the finance minister \u2014 and of no new conditions for the disbursement of the IMF\u2019s last tranche of $1.1bn, as the country has met all structural benchmarks, have boosted investor sentiment,\u201d he said.<\/p>\n<p>Shahab Farooq, director of research at Next Capital Limited, attributed the upward trajectory to \u201canticipation of a positive outcome from the negotiations with the IMF on the final tranche of the ongoing SBA\u201d, coupled with the expectations of a rate cut due to the decline in cut-off yields of Pakistan Investment Bonds (PIB) in the recent auction.<\/p>\n<p>Additionally, Farooq said that the \u201cclear-sighted statements of the newly appointed finance minister fuelled positive sentiments at the PSX\u201d.<\/p>\n<p>However, he cautioned that the turnover remained low due to caution practiced by investors and reduced trade time during Ramazan.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>After two consecutive sessions of selling pressure, some positivity returned to the Pakistan Stock Exchange (PSX) on Thursday after it gained more than 1,000 points in intraday trade. The KSE-100 index gained by 1,015.82 points, or 1.59 per cent, to close at 65,064.26 from the previous close of 64,048.44. Yousuf M. Farooq, director of research [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":71094,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/i.dawn.com\/large\/2024\/03\/14124210e261922.jpg?r=124252","fifu_image_alt":"","footnotes":""},"categories":[10],"tags":[],"class_list":["post-71093","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/71093","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=71093"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/71093\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/71094"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=71093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=71093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=71093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}