PSX’s Nonstop Rally Takes KSE-100 Index Past 116,000 Mark

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) gained 1,867.61 points on Monday to close at an all-time high of 116,169.41 points, up 1.61 percent over the previous closing.   The market continued its record-breaking on anticipation of a further rate cut in the monetary policy review scheduled for today. After the market closed, the central bank announced that the key policy rate has been cut by 200 basis points to 13 percent.  Brokerage house Topline Securities also said that the market continued its strong upward momentum with investors anticipating a rate cut. This was further bolstered by significant buying activity from local institutions, with the index hitting an intraday peak of 116,682, it added.  The rise in the index was primarily driven by strong performances from MARI, FFC, PPL, OGDC, and HUBC, which collectively contributed 1,749 points, Topline said.  A total of 1,470,661,659 shares were traded during the day as compared to 1,118,570,230 shares the previous day. The price of shares stood at Rs. 66.63 billion against Rs. 59.511 billion on the last trading day.     477 companies transacted their shares in the stock market today with 246 of them recording gains and 194 sustaining losses, whereas the share price of 37 companies remained unchanged.