PSX secures another high, KSE-100 crosses 186,000 level

Records continued to tumble at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index crossing the 186,000 level for the first time in history during the opening minutes of trading on Wednesday. At 10:05am, the benchmark index was hovering at 185,797.62, a gain of 735.52 points or 0.40%. The buying rally is fuelled by the anticipation of a policy rate cut in the upcoming Monetary Policy Committee (MPC) meeting, scheduled to be held later this month, say analysts. Buying interest was observed in key sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks, including HUBCO, MARI, POL, PPL, PAOS, SSGC, WAFI, HBL, MEBL, NBP, and MCB, traded in the green.