The benchmark index remained flat during the month of October 2022 and witnessed a marginal gain of 0.3% or 136ptsMoM. The decline in PIBs and T-bills yields during the month, the unchanged SBP Policy Rate at 15%, the Finance Minister statement that  Pakistan will not pursue the debt restructuring from the Paris Club and the payment of Euro bonds would be on time, the international financial institution including IMF, WB, and ISDB assured Pakistan of full cooperation and support floods related rehabilitation, the inflow of USD1.5 bn from ADB, exit from the FATF’s grey list after four years, resuming CPEC projects, and future investment expectations from Saudi Arabia kept investors’ confidence strong.

Courtesy- Spectrum Research