The Pakistan Stock Exchange (PSX) witnessed a buying frenzy on Monday, as its benchmark KSE-100 Index soared by over 1% ahead of the monetary policy announcement.
Announced after the trading session, the Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) kept the key policy rate unchanged at 22%.
On Monday, the KSE-100 largely remained in the positive territory throughout the session. At close, it settled at 51,482.93, up by 539.09 points or 1.06%.
During the day, power, fertiliser, cement, and banking sector stocks contributed positively as HUBC, DAWH, LUCK, UBL, and MEBL cumulatively added 267 points, brokerage house Topline Securities stated in its post-market report.
On the other hand, HBL, BOP, and SYS experienced profit-taking, resulting in a combined loss of 68 points, it added.
A report from the brokerage house Ismail Iqbal Securities stated that equities remained positive on an expectation of an interest rate cut.
