Positive economic indicators at the local level and a larger-than-usual policy rate cut by the Federal Reserve boosted investor confidence on the Pakistan Stock Exchange (PSX), with the benchmark SE 100 index up nearly 1,500 points on Thursday. An increase was recorded and the index crossed the level of 81 thousand.
According to the PSX website, the KSE-100 index rose 1,500 points or 1.82 percent to 81,962 points during trading.
Owais Ashraf, director of research at AKD Securities, said that investors are upbeat as a result of the easing of the monetary policy by the central bank and the easing of the $7 billion loan from the International Monetary Fund (IMF). , this is the reason why Pakistan Stock Exchange is witnessing a strong bullish wave.
The US Federal Reserve cut interest rates by half a percentage point on Wednesday, signaling the start of a sustained easing of monetary policy, a rare rate cut aimed at reducing borrowing costs.
It should be remembered that a positive trend was seen in the Pakistan Stock Exchange yesterday, the KSE-100 index closed at 80 thousand 461 after an increase of 970 points.
Earlier, the 100 index rose 894 points or 1.13 percent to 79 in the morning on September 13 after the central bank cut interest rates by 200 basis points and cleared the way for approval of a $7 billion loan program from the IMF. The thousand had reached 912.
