Pakistan Index Soars to Historic High
The bullish trend carried the Index to a historic high which closed at 91,938 points, gaining 1078 more points. The Index gained 1300 points at a time in trading and crossed 92,000 points level.
The analysts said that the expected cut in the interest rate and better economic indicators have boosted the investors’ confidence.
The increase reflects growing investor confidence in Pakistan’s economic policies and overall stability.
The State Bank of Pakistan (SBP) will announce its monetary policy today for the next two months.
The SBP made a major cut in the interest rate by reducing 200 basis points in the interest rate in September by two percent to 17.5%.
The capital market anticipates a 200 basis point reduction today, which would bring the rate to 15.5%. This follows a second consecutive month of single-digit inflation, with October’s reading at 7.2%.
The business bodies demanding the SBP to reduce its key policy rate by 400-500 basis points, bringing it down to 12.5-13.5% from the current 17.5 percent.
Mutib Khalid is a skilled content writer and digital marketer with a knack for crafting compelling narratives and optimizing digital strategies. Excel in creating engaging content that drives results and enhances online presence. Passionate about blending creativity with data-driven approaches, Mutib Khalid helps brands connect with their audience and achieve their goals.
