KARACHI – Bulls make a comeback at the Pakistan Stock Exchange (PSX) on Monday, marking an end to losing streak as the benchmark KSE-100 index registered a rally of 2350 points before noon.
Data shared by PSX portal shows strong buying, with the benchmark KSE-100 Index jumping 2,350 points, to reach 112,000. Banking, auto, cement, fertilizer, OMCs, and power generation, saw across-the-board buying activity.
Experts linked the surge to SBP’s decision to cut policy rate by 200 BPS to 13pc, a move that was widely anticipated. This marked total reduction of 900 basis points from the recent peak, fueling optimism in the market.
KSE-100 Index shows remarkable 75pc gain, inclusive of dividends, from January 1 to December 20. The rally follows week of significant selling pressure on PSX, driven by mutual funds and year-end profit-taking by institutional investors.
