The benchmark KSE-100 Index gained more than 2,000 points in the early hours of trading on Wednesday, marking the return of positive momentum to the Pakistan Stock Exchange (PSX) after a day of profit-taking. The index was 110,930.46 at 10:35 a.m.
The production of cars, cement, commercial banking, fertilizers, oil and gas exploration, oil marketing corporations (OMCs), refineries, and power generation were among the important industries where broad-based purchasing was observed. Major equities that were doing well included HUBCO, PSO, SSGC, SHELL, ENGRO, MCB, MEBL, HBL, and DGKC.
Better economic data, especially a decline in inflation to 4.9% in November, drove this purchasing frenzy. Expectations for additional policy rate cuts at the next Monetary Policy Committee (MPC) meeting have increased as a result of this decline.
