Stock Watch: Pakistan’s stocks blaze past 93,000

A higher-than-expected rate cut of 2.5% was cheered on at the Pakistan Stock Exchange, with the benchmark KSE-100 index closing at yet another record high of 93,292 points.

The policy rate is now at 15% — this will bring down the government’s interest expense for the current fiscal year by approximately PKR 1.3 trillion or 1% of GDP.

The Sukuk auction this week was another sign that more cuts are expected, with the rate of one-year Sukuk falling to 10.99%.

Watch the full episode of Stock Watch for a detailed analysis of market movement this week.