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Karachi (Manend News) Stocks on Monday blasted off to new highs, bolstered by strong fundamentals and sectoral performances, amid hopes that a steady fall in inflation could lead to a larger-than-expected cut in policy rates, boosting economic activity in the country and shifting bond investors toward equities.
The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index on Monday surged by 1,917.62 points or 1.89% to reach a new high of 103,274.94, compared to the previous close of 101,357.32, as the market continues to capitalise on the rally that saw it cross the 100,000-milestone last week.