Rising investor optimism about expected interest rate cuts has kept the Pakistan Stock Exchange (PSX) moving in a favorable direction on Wednesday.
From the previous closing of 90,864.09, the benchmark KSE-100 index increased 736.10 points, or 0.81%, to record an intra-day high of 91,600.19. The index dropped to an intra-day low of 90,449.41 early in the trading session. It soon changed course, though, and gained momentum.
The market’s upward trajectory was facilitated by institutional buying, good lending circumstances, and foreign investor interest in banking and fertilizer stocks. Because of this fervor, the index was able to break through the 91,000 barrier and reach an intra-day high of 91,358.15 points, but it closed below that level.
