Amid forecasts of a 250 basis point (bps) interest rate drop, investors chose to take profits ahead of the central bank’s upcoming monetary policy statement on January 27. As a result, stocks closed Tuesday’s turbulent session lower.
The KSE-100 Index dropped 802.56 points, or -0.69%, from its previous closing of 115,844.81 to close the day at 115,042.25.
The benchmark index had a good start to the day, increasing 580.04 points, or 0.5%, to reach an intraday high of 116,424.85 before dropping 1,101.1 points, or 0.95%, to 115,109.07.
On Monday, the Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) will discuss the economic outlook and decide on the policy rate.
