Stocks soared at the start of trading on Monday, with the benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) reaching an intraday high above 91,000 points. Investors are boosting their portfolios with high-value shares in anticipation of the central bank’s monetary policy meeting in early November.
The KSE-100 index had surged by 1,026 points to 91,020, up from the previous close of 89,993.96.
Analysts point to several factors for this surge, particularly expectations of an interest rate cut on November 4.
Sana Tawfik, Head of Research at Arif Habib Limited, informed that the market’s rise was due to the ongoing earnings season and improved liquidity in the country.
Ahsan Mehanti, an economist at Arif Habib, noted that investor speculation about a significant policy rate cut by the State Bank of Pakistan (SBP) fueled the rally. He also cited government discussions on privatising state-owned enterprises as another driving factor.
