Bulls break 117,000 barrier, buoyed by SBP policy rate cut
This rally was fueled by investor confidence, bolstered by the State Bank of Pakistan’s (SBP) recent 200-basis-point policy rate cut to 13%, positive macroeconomic indicators, and expectations of continued economic growth.The KSE-100 index climbed 869.76 points (0.75%), reaching an intraday peak of 117,039.17.This fifth consecutive rate cut by the SBP reflects a supportive monetary policy aimed at stimulating economic activity, driven by November’s inflation rate dropping to its lowest point since 2018 (4.9%).Analysts predict this shift will draw investment away from fixed-income securities and into equities, further invigorating the market. SuchTV, 17 Dec, 2024
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