Rate cut rally resumes to push PSX above 93,000 mark in day trading

Stocks at the Pakistan Stock Exchange surged to a record high above 93,000 points, driven by optimism for a further decrease in the monetary policy rate. Investors are hopeful for a policy rate cut of up to 400 basis points by December, following a recent 250 basis point cut by the State Bank of Pakistan. The current bullish trend is largely attributed to the central bank’s rate-easing cycle. The optimism is also boosted by strong cash flows in oil and gas stocks, as well as successful Sukuk bond auctions. The market is experiencing a broader bull run in global equities, with falling lending rates and declining government bond yields driving record bullish activity.