Strong buying at bourse, KSE-100 crosses 185,000 level

Strong buying momentum was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index crossing the 185,000 level during the second half of the trading session on Friday. At 2:45pm, the benchmark index was hovering at 185,117.47, an increase of 3,661.14 points or 2.02%. Analysts attributed the buying spree to expectations of a further policy rate cut in the upcoming Monetary Policy Committee (MPC) meeting. “There has been fresh buying from funds and institutional investors, while selling pressure has largely subsided,” Sana Tawfik, Head of Research at Arif Habib Limited, told Business Recorder