KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) regained the 140,000-point level as trading began on the first business day of the week with strong bullish momentum.
The benchmark KSE-100 index surged by over 900 points, reaching 140,149 points.
It is noteworthy that the index had closed at 139,207 points last Friday, after gaining 514 points.
Meanwhile, in the interbank market, the US dollar depreciated by 55 paisas, falling from Rs. 283.45 to Rs. 282.90.
Experts said investors are closely monitoring macroeconomic developments and policy signals as uncertainty continues to weigh on sentiment.
Read also: S&P Global lifts Pakistan's credit rating 'B-' from 'CCC+', outlook stable
Ratings agency S&P Global raised Pakistan’s sovereign credit rating to ‘B-’ from ‘CCC+’ and placed it on a ‘stable’ outlook on Thursday, saying the country’s finances and reserves had been stabilised by International Monetary Fund (IMF) support.
“The stable outlook reflects our expectations that continued economic recovery and government efforts to enhance revenue will stabilise fiscal and debt metrics,” S&P said in a statement on the move.
“We also expect that sustained official financing will support Pakistan in meeting its external obligations, and that the country will continue to roll over its commercial credit lines over the next 12 months.”