Bullish momentum continued at the Pakistan Stock Exchange (PSX) on Wednesday as shares gained nearly 500 points to cross 105,000 as lower inflation boosted investor confidence.
The benchmark KSE-100 index rose 495.37 points, or 0.47 per cent, to stand at 105,054.44 points from the previous close of 104,559.07 points at 10:34am.
The surge comes two days after data from the Pakistan Bureau of Statistics showed inflation dropped to 4.9pc in November, the lowest since 2017.
“Investors are optimistic about further reduction in policy rate as inflation falls below 5pc for November 2024,” said Awais Ashraf, director of research at AKD Securities, referring to the upcoming monetary policy meeting scheduled for Dec 16.
