- Web Desk
- 5 Minutes ago
Monetary policy expectations lend strength to stock market
- Web Desk
- Oct 23, 2023
KARACHI: After catapulting to above 50,700 points on Friday, the index opened with nearly 600 points jump on the first trading day of the current week.
Opening at 50,731.86 points, the index was seen hovering at 51,330.92 within first two hours of trading. Around 11 a.m., the index was seen strong with 534.55 points gains on 51,266.41 points.
The bullish trend that has been prevailing at the share market is propelled by positive indicators, particularly from the macroeconomic sector, providing investors with a stable and confident foundation in the capital market.
Analysts pointed to various factors contributing to this surge, chief among them being the anticipation of a favourable outcome from the upcoming monetary policy announcement scheduled for October 30.
The imminent review by the International Monetary Fund (IMF) also holds significant importance, as it is anticipated to serve as a stamp of approval for the government’s economic policies.