KARACHI – The Pakistan Stock Exchange (PSX) hit a record intraday high on Monday as the KSE-100 index surged past 138,000 points, driven by optimism around economic recovery, falling inflation, and hopes of a cut in the interest rate.
The benchmark index gained 1,785 points, reaching 138,165.21 during mid-day trading. Analysts say the rally is supported by signs of macroeconomic stability, a stronger rupee, and improved investor sentiment.
Experts believe the falling bond yields are giving clear signals that the State Bank of Pakistan might reduce the policy rate in the upcoming monetary policy meeting.
Moreover, the recent engagement of the finance minister with global rating agencies like Moody’s, and the formation of a government-business committee, has also contributed to investor confidence in long-term reforms and growth.
The PSX has remained one of the best-performing markets in the region this year, and the latest spike adds to the bullish momentum.
This story has been reported by PakTribune. All rights reserved.