KARACHI: Despite the analysts’ prediction of lacklustre performance by the stocks due to State Bank’s new monetary policy statement, the Karachi Stock Exchange opened the last trading week of May with positive note.
The KSE-100 index gained 145.65 points to reach 32751.27 points level, with the total volume of 18,532,350 shares.
The experts were of the view that monetary policy statement (MPS) announcement was likely to be a non-event, as the market has already priced in a 50-100bps rate cut, adding that the banks may face further negative sentiment after the announcement of the policy.
The KSE-100 shares Index closed the week ended May 22 at 32,605.62 points with a loss of 433.58 points, or 1.31 percent. The KSE-30 shares Index sheds 275.54 points, or 1.3 percent, to end the week at 21,045.79 points.
