KSE index hits all-time high, crosses 34,000 points

KARACHI: The Karachi Stock Exchange (KSE) rose 286 points or 0.85 per cent on Monday with the benchmark 100-index reaching an all-time high of 34,072 points.

Bullish activity in the KSE was fuelled by recovery in global oil prices and an anticipation of a 50 to 100 basis points (bps) cut in the interest rate by the State Bank of Pakistan, which is expected to announce the upcoming monetary policy on January 24.

Read: 3pc cut in discount rates sought

The two factors appear to have resulted in the high trading activity by foreign and local investors.

Fertiliser, cement, oil and gas sectors were in the spotlight during the day’s activity, after the price of crude oil in international market rose by 4.5 per cent (from $46.25 per barrel to $48.33 barrel).

Source: Dawn.com


Related posts