PSX witnesses another record-setting week

The Pakistan Stock Exchange (PSX) maintained bullish momentum on easing political noise and firm expectations of a significant policy rate cut in the upcoming monetary policy review, helping the KSE 100 index settle above 114,000-barrier for the first time in the outgoing week. The PSX reached a new milestone as the weekly average traded value hit an all-time high of Rs60 billion. The index delivered an impressive return of 83pc in CY24. However, on Tuesday, the market came under pressure, snapped the 9-day record-setting streak in a volatile session, and lost over 1,000 points to settle below 109,000. Arif Habib Ltd (AHL) said the index market remained buoyant, barring one session, crossing 115,000 in intraday trading in the last session. The bullish momentum prevailed amid positive economic indicators coupled with expectation of a rate cut in the State Bank of Pakistan’s (SBP) Monetary Policy Committee meeting on Dec 16.