Stock Markete 1% Cut In Interest

PAKISTAN, KARACHI: The stock markets across the country could witness correction, following the State Bank announcement of cut in interest rate merely by one percent.

Karachi Stock Exchange members—Arif Habib, Aqeel Karim Dedhi and Siddique Dalal talking to Geo news said that the investors were expecting cut in interest rate by two percent, but in the backdrop of the current decision, a correction up to 200 to 300 points could be seen.

They said that the revision of discount after every two months augured well, as it gives rise to hopes of further cut in the interest rate in future. Stock members said that the liquidity crunch in the market would also be solved by a slash in 10 percent market repo rate.