PSX extends winning streak, gains over 1,000 points
Business
The KSE-100 index has reached 157,96.58 points
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) extended its winning streak on Wednesday driven by investor optimism after the State Bank of Pakistan (SBP) projected moderate economic growth despite flood devastation.
During the intraday trading, the KSE-100 index moved up by 1,015.64 points to reach 157,96.58 points compared to previous close of 156,180.94 points.
A day earlier, the benchmark index surged 796.43 points, or 0.51 percent, to close at 156,180.94 points compared to previous 155,384.51 points.
Earlier this week, the Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) decided to keep the policy rate unchanged at 11 percent.
The committee noted that inflation remained relatively moderate in both July and August, whereas core inflation continued to decline at a slower pace. Economic activity – as captured by high frequency economic indicators, including large-scale manufacturing (LSM) – gained further momentum.
However, the near-term macroeconomic outlook has deteriorated slightly in the wake of the ongoing floods, it said.
This temporary yet significant flood-induced supply shock, particularly to the crop sector, may push up headline inflation and the current account deficit from earlier expectation in FY26.
Meanwhile, economic growth is projected to moderate as compared to the previous assessment.
