With a moderate inflation outlook bolstering expectations for a significant rate decrease by the central bank in December, stocks continued to surge into new territory on Thursday, propelled by waning political unpredictability and improving economic prospects.
After reaching an intraday high of 101,496.17 points, the benchmark KSE-100 Shares Index of the Pakistan Stock Exchange (PSX) gained 1,274.55 points, or 1.27%, to settle at 101,357.32 points.
The news that the State Bank of Pakistan (SBP) has received $500 million from the Asian Development Bank (ADB) as part of a loan for the government’s Climate Change and Disaster Resilience Enhancement Program (CDREP) is what gave investors hope, according to Topline Securities’ market wrap.
