After a day of profit-taking, bullish sentiment surged back at the Pakistan Stock Exchange (PSX) on Wednesday, with the KSE-100 Index
BTC TO USD – Today’s Bitcoin price in Dollar on Dec 11, 2024After a day of profit-taking, bullish momentum surged back at the Pakistan Stock Exchange on Wednesday, with the KSE-100 Index climbing over 2,000 points during early trading hours.
The market opened on a strong note, with the index reaching an intra-day high of 111,005.06. By 1 pm, it was trading at 110,749.15, a gain of 1,852.50 points or 1.7%. Key sectors saw widespread buying, including automobile assemblers, cement, commercial banks, fertilizers, oil and gas exploration, OMCs, refineries, and power generation. Major stocks such as HUBCO, PSO, SSGC, SHELL, ENGRO, MCB, MEBL, HBL, and DGKC traded positively, contributing to the rally.
The buying momentum was driven by improved economic indicators, particularly a drop in the inflation rate to 4.9% in November. This decline has fueled expectations of a policy rate cut in the upcoming Monetary Policy Committee meeting. Additionally, a high-level meeting was held on Tuesday to discuss the Advance-to-Deposit Ratio in the banking sector. Participants reviewed the ADR policy’s impact on lending, tax revenue targets, and the banking environment.The government introduced higher tax rates on banks with ADR below 50% through the Finance Act 2022, aiming to boost commercial lending and tax passive income at a higher rate.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
Similar News:آپ اس سے ملتی جلتی خبریں بھی پڑھ سکتے ہیں جو ہم نے دوسرے خبروں کے ذرائع سے جمع کی ہیں۔
PSX after remaining bullish for two weeks turns bearish today as it loses 1,073 pointsAbb Takk News
مزید پڑھ »
Week-long bullish trend continues at PSX on last day as well, as it gains 814 pointsAbb Takk News
مزید پڑھ »
Bullish trend continues at PSX on first day of business week as 100 index gains 916 pointsAbb Takk News
مزید پڑھ »
Pakistan Stock Exchange roars to all-time high of 97,000 markThe bullish sentiments persisted at the Pakistan Stock Exchange (PSX) on Thursday as well amid massive buying, driving the index to cross the historic 97,000 mark, reported 24NewsHD TV channel.
مزید پڑھ »
KSE-100 surpasses 99,000 mark amid ongoing banking sector rallyThe Pakistan Stock Exchange (PSX) saw a mixed trend on Monday, with the banking sector leading the gains. The KSE-100 index
مزید پڑھ »
Bullish trend continues in PSX as KSE-100 index a whisker short of 100,000 markAround 11 am there was unusual activity on the market as KSE-100 rose to 99,358 points
مزید پڑھ »