Pakistan Stock Exchange Soars Investors Anticipate Interest Rate Cuts
The Pakistan Stock Exchange (PSX) continued its upward trend on Wednesday, with the KSE-100 index rising by 736.10 points (0.81%) to reach 91,600.19. Investors are optimistic about a possible interest rate cut by the State Bank of Pakistan, which is expected to discuss reducing the policy rate from 17.5% at its meeting on November 4.
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Experts believe this bullish sentiment is fueled by decreasing political uncertainty and strong corporate earnings. Additionally, falling interest rates are driving liquidity in the market, with real estate investments underperforming. Recent data shows inflation fell to 6.9% in September, the lowest since January 2021, thanks to stable commodity prices and a steady currency. Analysts speculate that another rate cut could occur, potentially leading to a total reduction of 400 basis points by December, attracting more foreign investment in Pakistan’s capital market.
