KARACHI: The Pakistan Stock Exchange (PSX) has set a new record of attaining 72,000 point benchmark amid growing hope for interest rate cuts.
The benchmark KSE-100 Index set a new milestone by crossing the 72,000 for the first time in its history on Wednesday as the market remained bullish amid the rising expectations of rate cuts, foreign investment and progress on economic reforms, including privatisation of loss-making state-owned enterprises (SOEs).
At one point, the KSE-100 Index had surged by over 1.45 per cent, or 1,055 points, to 72,414.32 as the Pakistan Stock Exchange continued seeing a buying spree in companies ranging from those related to energy and cement to commercial banks, telecommunication and technology, food and personnel care, and transport.
However, it settled at 72,051.89 after a gain of 692.49 points, or 0.97 per cent, when trading was closed for the day.
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