Business
Another day, another high: PSX continues bull run as KSE-100 goes past 61,000 points
KARACHI: The Pakistan Stock Exchange (PSX) on Wednesday reached another historic high as the bulls continue to dominate the benchmark KSE 100 index with hopes of the State Bank of Pakistan lowering the policy rate in the coming days.
The benchmark index gained 702, or 1.16%, during the intraday trade and stood at 61,433 points at 10:09am.
Commenting on the bull run, Head of Research at Pakistan-Kuwait Investment, Samiullah Tariq said that the market was reacting positively because it expects an interest rate cut, a quick International Monetary Fund review and strong profitability of companies.