KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) regains upward movement in the last few days amid hope of favourable outcome of the ongoing talks about loan tranche with the International Monetary Fund (IMF).
As the investors exuded confidence and participated in trading, the KSE-100 Index rose to 115,730 points after gaining 600 points on Friday - the last working day of the business week while closing at 115,536 after gaining 441 points.
Having gone through ups and downs, the PSX on Thursday gained momentum with the key index surpassing 115,000 points.
The KSE 100-Index gained 1,009.70 points, or 0.89pc, and closed at 115,094.23 points. The intraday high was 115,247.39 and the lowest level was 14,429.93.
Experts believe the upgrade of Pakistani banks by Moody’s Ratings is a key factor. Similarly, hope of favourable outcome of the talks with the International Monetary Fund (IMF) has added to confidence of investors.
“We have changed our outlook on Pakistan’s banking system to positive from stable to reflect the banks’ resilient financial performance as well as improving macroeconomic conditions from very weak levels a year ago,” Moody’s said in its assessment.
Also read: PSX regains 115,000 mark on the heels of positive indicators
The Pakistan Stock Exchange (PSX) on Thursday gained momentum with key index surpassing 115,000.
