According to Spectrum Research, after recording a change of -16% CYTD till the end of June the index showed recovery in the month of July by rallying 4,849pts, the KSE-100 Index concluding the month with impressive gains. The KSE-100 Index while recording an upward move over the month, touched a peak of 39,270pts, with a low 34,490pts and closed at 39,258pts making the total change for the month at a gain of 4837pts(up 14.05%MoM) and bringing down the CYTD from -16% in June’20 to -5.14% in July’20. The key factor behind this surge is the policy cut that helped companies improve their earnings prospects, and also diverted the flow of funds from money market to equity market increasing the liquidity in the market, as it is evident from the surge in monthly volumes that increased by 93.9% from 206mn to 380mn.