KARACHI – Pakistan Stock Exchange (PSX) kickstarted the week on a positive note, moving up by 900 points in early trading, amid hopes of major cut in key policy rate.
The benchmark KSE-100 index climbed to reach high of 92,072. This follows a robust performance on the previous trading day, where the market had risen by 1.85 percent, closing at 90,637.05.
The Monetary Policy Committee (MPC), chaired by the SBP Governor, is set to convene to review the country’s economic conditions and global developments before making its decision on the policy rate.
Experts anticipate a potential cut from the current rate of 17.5 percent to between 15.5 and 16 percent, driven by declining inflation rates.
SBP was urged to implement a more substantial rate cut of 400-500 basis points to stimulate trade and industrial growth. The president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) expressed concerns over the existing monetary policy, highlighting the need for immediate adjustments to boost exports.
Much needed cut in interest rates is touted to lower capital costs for exporters, giving them boost in regional and global markets.
PSX starts week with strong rally, surges past 91,000 for first time
