- The KSE-100 index ends at 116,901.13, up 881.03 points, or 0.76%.
- The index reaches an intra -day summit of 117,216.02, an increase of 1,195.92 points, or 1.03%.
- Basse session recorded at 115,818.07, down 202.03 points, or 0.17%.
The scholarship found its bullish momentum on Thursday, reversing the losses of the previous session while investors reacted positively to a series of economic developments, in particular the upgrading of Fitch credit rating and the drop in world oil prices.
Pakistan Pakistan Benchmark KSE-100 index of Pakistan Pakistan (PSX) closed at 116,901.13, up 881.03 points, or 0.76%, compared to the previous fence of 116,020.10.
The index reached an intraday summit of 117,216.02, marking a gain of 1,195.92 points, or 1.03%. The bottom of the session was recorded at 115,818.07, representing a modest drop of 202.03 points, or 0.17%.
“The markets applaud various news, including the upgrade of fitch, the resolution of the circular debt and a sharp drop in oil prices,” said Ahfaz Mustafa, CEO of Ismail Iqbal Securities.
“Oil prices decrease and expectations of moderate inflation, associated with a tax repair on real estate transactions, all lead to a positive feeling,” he added.
Investors’ confidence was supported by the Fitch Ratings decision earlier this week to upgrade the long-term long-term transmitter of Pakistan long-term “B-” of “CCC +”, with a stable perspective. The agency cited improved budgetary consolidation, a stabilizing external account and stronger macroeconomic management within the framework of the current IMF program.
The macroeconomic feeling has been raised by data from the March consumer price index, which showed a slowdown in 0.69%inflation, the lowest monthly reading in more than seven years.
In an additional sign of improving economic feeling, the government has managed to increase on Wednesday 965 billion rupees thanks to the auction of market cash flow (Bills T), exceeding its target of 850 billion rupees.
The cut -off yields have decreased slightly on tenors of one month and six months, while remaining flat for others. In addition, 261 billion rupees have been increased via Pakistani investment obligations (floats) against a target of 400 billion rupees.
The Governor of the State Bank of Pakistan (SBP), Jameel Ahmad, earlier this week, expressed his optimism that the recent drop in oil prices would help compensate for the impact of American reciprocal rates.
Last week, US President Donald Trump announced a 90 -day break on new pricing measures, offering a space for negotiations after imposing 29% of Pakistani export tasks.
Wednesday, the PSX had ended its two -day victories sequence, lowering 755.4 points or 0.65% to end at 116,020.11.