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Index shoots up following relaxation of policy rates

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Index surged up during the day, gaining 136 points on the back of the relaxation of monetary policy rates by 250 bps, which surpassed investors’ expectations.

The entire broader market was up today with shares rising across the board on all sectors. Moreover, revitalized investor interest was visible on the retail favourite counter LIOC, during the day. Treasury shares also observed significant trading activity during the day driven by the policy rate cut. Furthermore, JKH topped the turnover today, amidst foreign selling of Rs 1.4 million.

Meanwhile, market turnover hit a 3-week high and recorded at Rs 1.3 Bn (+97.3% cf. monthly average turnover of Rs 676.9 million) contributed by the Capital Goods sector (53%) and the Food, Beverage & Tobacco sector (13%).

First Capital Research


Friday, June 2, 2023 – 01:00

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