KARACHI: Bulls entered the market with a vengeance on Friday, tossing the KSE-100 index up by 1,884.48 points (6.02 percent) at the start of session and KSE-100 index was trading at 33, 213.94 points. The rally was effectively led by the foreign investors. The optimism prevailed among the investors as the State Bank of Pakistan (SBP) on Thursday slashed its key interest rate by 2 per cent, bringing it down to 9 per cent from 11 per cent. This move, the third cut since March 17 when the rate was 13.25 per cent, is aimed at stimulating economic activity after global financial institutions warned the world is heading towards a recession feared to be deeper than the 2009 financial crisis.

Source: Pakistan Today April 17, 2020 06:33 UTC