No slowing down PSX as 100 Index continues bullish momentum even after surpassing 100,000 milestone

Bulls continued to maintain their control over the Pakistan Stock Exchange (PSX) as shares climbed over 1,900 points on Monday as investors expected a dip in the inflation reading for the month of November. The benchmark KSE-100 index climbed 1,248.84 points, or 1.23 per cent, to stand at 102,606.16 points from the previous close of 101,357.32 points at 11:06am. Finally, the index closed at 103,274.94 points, up by 1917.62 points or 1.89pc from the last close of 101,357.32 points. Yousuf M. Farooq, director research at Chase Securities, noted that the market was up again due to investors’ anticipating inflationary pressure to ease below 6pc for November, with some even projecting it to dip below 5pc. “Lower inflation is expected to pave the way for reduced interest rates, and we now foresee rates falling to single digits within the next year,” he explained. “This shift could improve valuations across the stock market.”