Stocks rally ahead of monetary decision
The stock market staged a robust rally ahead of Monday’s anticipated interest rate cut, helping the benchmark KSE 100 index snap its losing streak triggered by growing political noise last week. Contrary to last week’s trend, Topline Securities Ltd noted in its market report that equities initiated the week on a bullish note ahead of the State Bank of Pakistan’s Monetary Policy Committee meeting, which was scheduled to be announced in the evening. The index witnessed a positive momentum almost throughout the day. Blue-chip stocks witnessed across-the-board buying, as most analysts anticipated a 100-150-bps cut in the SBP policy rate due to slowing inflation and improved macroeconomic indicators.