Hurray! KSE scales 34,000pts level; up 257pts, 0.76% to climb up to 34044pts level

KARACHI: Buoyant stocks made another history as benchmark mark KSE 100-index scaled the landmark 34044.29 points level, going up 257.85 points or 0.76 percent in early trading on Monday, ahead of the monetary policy statement by State Bank of expected on Jan 24.

Buoyed at the expected cut in policy rate of 50-100bps, the State Bank of Pakistan (SBP) cheered up and went fast by the 34,000 points level. As a result, the benchmark KSE 100-index gained 0.76 percent.

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The market opened the weekend closing of 33818.29 points and kept on sailing high, boosting confidence of the investors to push the index to the historic mark.

Experts and analysts expect the market to stay bullish and attract more investment, especially foreign.