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Pakistan Stocks Hit Record as Rate-Cut Bets Build Ahead of SBP Review

Investor positioning reflects a Topline poll pointing to a cut at the Jan. 26 meeting.

Overview

  • The KSE-100 closed at 187,761.69, up 2,662.86 points or 1.44%, after trading between 186,127 and 187,882.
  • Mid-cap shares led gains as investors cited potential policy easing, a controlled current-account gap, and interest in a possible panda bond.
  • Topline Research reported 80% of survey participants expect a rate cut, with 56.4% looking for a 50 basis point move.
  • Pakistan Investment Bond yields fell by roughly 59–70 basis points across key tenors, and the Finance Ministry outlined plans to tokenise up to $2 billion of domestic debt.
  • SBP reserves edged up $16 million to $16.072 billion, total liquid reserves reached $21.248 billion, and the central bank projects an FY26 current-account deficit of 0–1% with reserves seen at $17.8 billion by June; trading remained volatile with average weekly volume down about 24.5% to 1.2 billion shares.