Stock Watch

Mutual funds were the biggest buyers this week with net buying of $13.96 million followed by individuals buying equities worth $8.2 million

A higher-than-expected rate cut of 2.5% was cheered on at the Pakistan Stock Exchange

The KSE-100 index closed the week with a gain of 866 points or 0.96% at 90,860

The stock market was pricing in a number of positives

Nukta summarizes market activity last week and outlines the reasons the rally paused

The KSE-100 index gained 1,951 points to close at yet another record high level of 85,483 points

Positive sentiments were driven by lower than expected inflation for September that clocked in at 6.9%

Positive sentiments were driven from last week’s rate cut of 200 bps as well as IMF’s board meeting scheduled for September 25

Brent crude closed 2.56% up at $74.6 per barrel, gold surged 2.78% to $2,566.85/ounce

Investors are also bracing for selling from foreign investors as a result of FTSE Russell downgrading Pakistan