KARACHI – The Pakistan Stock Exchange (PSX) on Wednesday surged to record high after shares gained over 800 points amid anticipated cut in interest rate.
The KSE-100 index gained 869.77 points, or 1.3 percent, to close at Rs67,756.03. During intra-day trading, it witnessed highest level of 67,873.21 points.
On March 28, the KSE-100 hit a record high 67,142.12 points. Today, bullish trend helped the PSX to cross the previous record.
Major gains were witnessed in sectors such as cement, transport, technology and communication and commercial banking.
An expert told media that decreasing inflation rate hinting towards economic resilience. He added that the situation has led investors to anticipate cut in interest rate in next review by the State Bank of Pakistan.
