Exciting news for investors as the Pakistan Stock Exchange (PSX) saw a rise of 356 points on Thursday. Analysts credit this surge to Moody’s rating upgrade, boosting investor confidence.
The benchmark KSE-100 index closed at 78,349.66 points, marking a 0.46% increase from the previous close. Awais Ashraf from AKD Securities highlighted the positive impact of Moody’s upgrade on investor sentiment.
Moody’s upgraded Pakistan’s ratings due to improved macroeconomic conditions. Yousuf M. Farooq from Chase Securities noted that the market had been under pressure due to uncertainty surrounding the IMF programme.
With the recent agreement between the government and IMF on a 37-month loan programme, the market awaits further clarity. Farooq emphasized the market’s adjustment to lower risk-free rates, suggesting a positive outlook for investors.
Overall, the market’s performance reflects optimism and resilience, attracting attention from investors looking to capitalize on opportunities.