PSX sees bullish move, KSE-100 index crosses 170,000 points
The Pakistan Stock Exchange saw a huge bullish move on Monday, with the benchmark KSE-100 index crossing the psychological threshold of 170,000 points and closing on a positive note.
At the end of the trading day, the KSE-100 index closed at 170,741.34 points with an increase of 876.82 points, while the index also reached a high of 171,001 points during the day.
The main reason for this market rally is being attributed to the State Bank of Pakistan’s announcement of a 50 basis points cut in interest rates, taking the policy rate to 10.5%. Investors took this decision as a positive sign for the economy and took an interest in buying shares.
Oil and gas, technology and cement sectors played a significant role in the market rally, while Pakistan Petroleum Limited and Systems Limited were among the companies that added the most points to the index.
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