Stocks falter amid uncertainty surrounding MPC meeting outcome
Business
It must be remembered that the KSE-100 index closed at 115,402 points yesterday.
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) witnessed a volatile session on Wednesday as the benchmark KSE-100 Index hovered at 114,670 points after losing more than 300 points.
Later, there was further decline and the KSE-100 Index closed at 113,400.
On Tuesday, the KSE-100 Index closed at 115,402 points.
Market analysts believe the upcoming Monetary Policy Committee (MPC) meeting on Jan 27 could help boost investors’ confidence if it lowers the interest rate by 100bps.
On the other hand, the US dollar was trading at Rs278.70 after its price was decreased by Rs0.12 against the Pakistani rupee.
