Pakistan Stock Exchange mostly maintained a positive momentum throughout the week ended on August 23, 2024, primarily driven by declining T-Bills yield and favorable corporate results. The benchmark index closed the week at 78,801 points, up 756 points or 1.0%WoW. Market participation surged by 27%WoW, with the average daily traded volume rising to 468 million shares from 368 million shares a week ago.

In Wednesday’s T-Bills auction, cut-off yields witnessed a significant decline, which brought the 3-month yield down to 17.49%, indicating market expectations of a rate cut exceeding 100bps in the upcoming Monetary Policy Committee (MPC) meeting scheduled for September 12, 2024. These expectations of rate cut led to the rerating........

© Eurasia Review