The Pakistan Stock Exchange (PSX) broke the 106,000 mark on Thursday, gaining more than 1,000 points as the rally supported by positive economic indicators and lower inflation rates continued.
The benchmark KSE-100 index rose 1,195.92 points, or 1.14 per cent, to stand at 106,300.25 points from the previous close of 105,448.05 points at 10:50am.
The rally continues following Pakistan’s annual inflation rate dropping to 4.9pc in November, its lowest level since 2017. It also marks a week since the PSX hit the 100,000 mark for the first time.
The country’s trade deficit also narrowed by 19pc year-over-year to $1.59 billion, bolstering expectations of a robust current account surplus and uplifting market confidence.
As the PSX maintained its bullish momentum on Wednesday, analysts highlighted that investors were also optimistic about a further reduction in interest rates in the upcoming monetary policy meeting scheduled for Dec 16.
He had also cited indications of economic growth recovery, a rebound in cement sales and a surge in petroleum sales as factors adding to investors’ confidence.
Earlier this week, according to Topline Securities Ltd, the trade value in the ready market climbed to an impressive Rs57 billion ($203m), marking the highest level in 18 years.
More to follow
