PSX reaches new peak of 138,000 with 2,200-point rally

The Pakistan Stock Exchange (PSX) on Thursday continued its renewed bullish momentum as it crossed the 138,000-point barrier. The benchmark KSE-100 index rose by 1,785.25 points, or 1.31 per cent, to stand at 138,165.21 points at 11:57am, from the previous close of 136,379.96 points. The index closed at 138,665.49 points, up by 2,285.53 points or 1.68pc. Awais Ashraf, research director at AKD Securities, said: “Investor optimism over a potential rate cut in the upcoming monetary policy, expected later this month, has strengthened following a decline in yields during yesterday’s PIBs (Pakistan Investment Bond) auction. “A stable external account and easing inflation further support the case for bringing interest