OUR CORRESPONDENT:

The Pakistan Stock Exchange (PSX) reversed course on Monday following two days of profit-taking as investors widely anticipated that the State Bank of Pakistan’s monetary policy committee (MPC) would leave policy rate on hold at 11%.

Triggered by investor interest in selective stocks of banking, cement, fertiliser and energy sectors, the benchmark KSE-100 index closed higher by 944.82 points, or 0.61%, at 155,384.51.

In the evening, the central bank, in line with expectations, kept the policy rate unchanged as inflationary pressure was feared to intensify following heavy rainfalls and floods in the country, which have damaged crops and livelihoods over vast swathes of the country. The State Bank’s decision would dispel uncertainty and provide a boost to investor senti

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