KARACHI – The Pakistan Stock Exchange (PSX) maintained its bullish trend on Wednesday as it reached another record-breaking high.
During intraday trading, the bench KSE-100 index gained 735.32 points to reach all-time high of 105,294.39 as compared to previous close of 104,559.07 points.
Investors are trading with confidence as the State Bank of Pakistan (SBP) is likely to cut the policy rate again amid decreasing inflation in the country.
Experts have also attributed the ongoing upward trend in the stock market to the political stability in the country.
The inflation rate declined to 4.9 percent in November, the lowest reading in the six and half years. The inflation in October this year stood at 7.2 percent, according to the Pakistan Bureau of Statistics.
Such low pace of inflation is likely to result in more monetary easing, leading to further decline in cost of capital for businesses and industries, and higher savings on debt servicing for the government ensuring improved fiscal balance in the coming months, state broadcaster reported.
This is a developing story
