In the Pakistan Stock Exchange (PSX), the benchmark KSE-100 index reached an all-time high of 116,169.41 points on Monday, a gain of 1,867.61 points over the previous closure. This is a 1.61 percent increase over the previous closing.
A further reduction in interest rates is expected to be announced during the monetary policy review that is set to take place today, and the market continued its record-breaking performance. The announcement that the key policy rate had been reduced by 200 basis points to 13 percent was made by the central bank after the market had officially closed.
Investors are anticipating a reduction in interest rates, according to Topline Securities, which also stated that the market continued its strong upward trend. In addition to this, the index reached an intraday high of 116,682 points, which was further supported by the strong buying activity that was carried out by local institutions.
In a statement by PSX, Topline stated that the rise in the index was principally driven by the good performances of MARI, FFC, PPL, OGDC, and HUBC, which jointly contributed 1,749 points.
The total number of shares that were exchanged during the day was 1,470,661,659, which is a significant increase from the previous day’s total of 1,118,570,230 shares. As of the previous trading day, the price of shares was 66.63 billion rupees, which is a decrease from 59.511 billion rupees of the previous day.
On the stock market today, there were 477 firms that traded their shares, with 246 of them achieving gains and 194 of them experiencing losses. On the other hand, the share price of 37 companies showed no change.
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