Bulls continued their stampede at the Pakistan Stock Exchange on Friday as shares gained more than 1,200 points in an unabated rally.
The benchmark KSE-100 index climbed 1,274.55 points, or 1.27 per cent, to stand at 101,357.32 points from the last close of 100,082.77 at 4:38pm.
Awais Ashraf, director research at AKD Securities, said the KSE-100 index was “maintaining its upward momentum, driven by expectations of a substantial rate cut in the upcoming Monetary Policy Statement scheduled for next month as the KIBOR [Karachi Interbank Offered Rate] and T-bill yield approach 13pc”.
The State Bank of Pakistan’s Monetary Policy Committee is due to meet on December 16 to determine changes in the key interest rate.
