KSE flat as monetary policy draws nigh

KARACHI: Karachi Stock Exchange (KSE) ended lower on Thursday on light trade as investors stayed on the sidelines awaiting the announcement of the next monetary policy, dealers said.

The State Bank of Pakistan is due to announce its monetary policy on Saturday for the subsequent two months and analysts expect a cut of up to 100 basis points to 12.5 percent due to easing of inflationary pressures.

The KSE benchmark 100-share index fell 0.25 percent, or 29.17 points, to end at 11,839.
Volume was 62.75 million shares, compared with 82.64 million shares traded on Wednesday.

"Investors preferred to stay sidelines just two days ahead of monetary policy as the speculation regarding a decline in interest rate heightened," said Samar Iqbal, a dealer at Topline Securities Ltd. (Reuters)