Stock market continues bullish run as index grows by another 1,200 points

The Pakistan Stock Exchange surged past 104,000 points on Tuesday, gaining more than 1,000 points a day after data showed inflation fell to a six-and-a-half-year low in November. The benchmark KSE-100 index rose 1,284.13 points, or 1.24 per cent, to close at 104,559.07. The market initially dropped sharply, falling 449 points in early trading, before rebounding to close above 104,000 points. The rally followed news that Pakistan’s annual inflation rate dropped to 4.9pc in November, its lowest level since 2017. The country’s trade deficit also narrowed by 19pc year-over-year to $1.59 billion. “The market is rerating upwards in anticipation of lower interest rates and stronger earnings growth,” said Yousuf M Farooq, research director at Chase Securities. He advised retail investors to maintain a long-term focus and build diversified portfolios through consistent monthly investments.