KSE-100 Index Reaches New Heights Amid Economic Optimism

The KSE-100 Index has reached a new milestone, surpassing 102,817.75 points, marking a significant increase of 1.44% from its previous close of 101,357.32 points. This upward trend is attributed to various factors, including an influx of $500 million from the Asian Development Bank, which has bolstered the country's foreign exchange reserves to nearly $12 billion. The State Bank of Pakistan's interest rate cut earlier in November has also contributed to the market's bullish sentiment. Despite a foreign investors' withdrawal of $15.1 million, the average daily traded value has remained high at Rs36.85 billion. However, the inflation outlook is projected to hit between 5.6% and 6.5% by December, which may pose a challenge to the market's momentum. The current economic optimism is evident in the market's performance, with the KSE-100 Index continuing to rise and break new records.