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       After a day of investors booking profits, bulls returned to the trade floor as shares at the Pakistan Stock Exchange (PSX) surged more than 2,000 points on Wednesday.

       The benchmark KSE-100 index climbed 2,026.62 points, or 1.86 per cent, to stand at 110,923.27 points at 1:43pm from the previous close of 108,896.65.

       Mohammed Sohail, chief executive at Topline Securities, noted that stocks rose again on the back of non-stop buying by local mutual funds after a day of profit-taking.

       Awais Ashraf, director research at AKD Securities, said investors were “optimistic about the anticipated policy rate cut and the potential positive outcomes of today’s SIFC [Special Investment Facilitation Council] meeting”.

       Experts expect an interest rate cut in the upcoming Monetary Policy Committee (MPC) meeting scheduled for December 16, following inflation falling to 4.9pc, the lowest in 6.5 years.

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       Moreover, Ashraf highlighted that the “reduction in government borrowing has sparked hope for increased development spending that may spur demand for consumer goods”.

       Yesterday, after trading in green initially, stocks snapped a nine-day record-setting streak as the KSE-100 index, after a volatile session, lost over 1,000 points to settle below 109,000 on aggressive profit-taking.

       Analysts had attributed the volatility to the global equities downturn on geopolitical tensions in the Middle East and dismal remittances falling by 5pc month-on-month in November.

       More to follow