Stocks extended their record-making streak on Wednesday, crossing the 105,000-point mark for the first time, driven by expectations of a significant interest rate cut by the State Bank of Pakistan (SBP) in its upcoming monetary policy meeting on December 16.
The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index climbed 735.32 points, or 0.70%, to reach a new intraday high of 105,294.39. This rally reflects sustained confidence in the market’s upward trajectory.
The KSE-100’s record-breaking momentum is fueled by growing optimism surrounding the economy, as inflation continues to decline, creating room for further monetary easing.
Wednesday’s session follows Tuesday’s impressive gains, with the market closing at 104,559.07, adding 1,284 points.
The SBP has already slashed interest rates by 700 basis points (bps) in four consecutive meetings since June, bringing the rate to 15%. Investors are hopeful that the SBP will continue its policy of monetary easing to support economic recovery.
