The Pakistan Stock Exchange (PSX) continued its bullish momentum on Wednesday, setting a new all-time high.
According to a report by Pak Observer on Wednesday, during intraday trading, the KSE-100 index surged by 735.32 points, reaching a peak of 105,294.39, up from the previous close of 104,559.07.
The report states that Investor confidence remains strong as the State Bank of Pakistan (SBP) is expected to reduce the policy rate further, driven by falling inflation.
On the other hand, economic experts also attribute the market’s positive performance to the country’s political stability.
According to the Pakistan Bureau of Statistics, inflation dropped to 4.9% in November, marking the lowest rate in six and a half years, compared to 7.2% in October.
This slowdown in inflation is expected to prompt more monetary easing, reducing business capital costs, cutting government debt servicing, and improving fiscal balance in the coming months.
This is a developing story.
