Bulls celebrate new year with 1,500-rally

Bulls celebrated new year at the Pakistan Stock Exchange (PSX) with a new 1,500 point rally on Wednesday in intraday trade.

The KSE-100 index climbed 1544.18, or 1.34 per cent, to stand at 116,681.01 points from the previous close of 115,126.90 at 11:53am.

Awais Ashraf, director reasearch at AKD Securities, noted that the stock market’s perfomance could be attributed to increasing political stability and aggressive monetary easing by State Bank of Pakistan (SBP) amid stable currency.