KARACHI: The Pakistan Stock Exchange (PSX) on Thursday made history when its benchmark index KSE-100 showed an impressive increase of 1 percent, crossing the gateway set at 100,000 points at the start of the trading day.
According to the PSX website, the market opened on a bullish tone, and the KSE-100 was hovering at 100,216.68 level as of 09:47 am with an increase of 666.38 points or 0.67%.
The milestone came as a huge recovery after the market’s steep decline of over 3,500 points on Tuesday amidst ferocious protests in Islamabad.
On Wednesday, a phenomenal recovery occurred at the PSX as the KSE-100 Index surged up by 4,695.09 points, or 4.96 percent, to close at 99,269.25.
The sturdily bullish momentum at the market was characterized by more cuts in the Minimum Profit Rate (MPR) requirements of conventional banks on deposits coupled with easing political noise.
On Tuesday, the State Bank of Pakistan (SBP) abolished MPR for conventional banks on deposits against financial institutions, public sector enterprises, and public limited companies.
