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PSX records an increase of 593 points today

The Pakistan Stock Exchange continued its rally on Wednesday with the KSE-100 index gaining 593.25 points as the postponement of the Pakistan Democratic Movement’s (PDM) long march helped drive investors’ sentiments.

The 100 Index on the Pakistan Stock Exchange (PSX) closed at 45,450 points, up 593 points today.

It may be recalled that during the last 4 days, the 100 index of the stock market has increased by 2670 points.

The State Bank of Pakistan (SBP) is scheduled to announce the monetary policy for the next two months on March 19 (Friday). At its meeting on June 25, 2020, the Monetary Policy Committee (MPC) had decided to reduce the policy rate by 100 basis points to 7pc and it is still unchanged.

Experts believe the central bank may not increase rates as the previous monetary policy statement indicated that the monetary policy settings in the near term will remain unchanged.

A survey conducted by a brokerage house said on Tuesday that 82pc of the financial sector believes that the policy rate would remain unchanged, while the rest see a slight upward change between 25 to 50 basis points.

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