Declining inflation, rupee stability offer strength to stock market

KARACHI: The Pakistan Stock Exchange (PSX) saw a notable uptick on Wednesday as the benchmark KSE-100 index gained 162.41 points, closing at 81,967.01 points.

This upward trend was driven by encouraging market factors such as lower inflation, a stabilised rupee, declining global commodity prices, and improved performance in the agricultural sector, analysts said.

Despite opening on a cautious note, with the KSE-100 index hitting an early low of 81,529.45 points but the market rebounded as the day progressed.

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Investors responded positively to key developments, including an anticipated 200-basis-point reduction in the policy rate projected by S&P for FY25, a 20 per cent increase in petroleum sales in September, and rising global crude oil prices, media reports said.

The bullish momentum briefly pushed the index above the 82,000-point mark, reaching an intra-day high of 82,360.28 points. However, the index couldn’t maintain this level, finishing slightly below that threshold but still recording modest gains.

The positive trend continued into Thursday morning, with the index hovering around 82,133.28 points at 10 AM, showing 166.28 points gains.