Exciting news at the Pakistan Stock Exchange (PSX) as the index soared over 400 points on Friday, showcasing a positive trend in trading. Initially climbing 446.50 points, the KSE-100 benchmark index closed at 78,488.21, a 0.18% increase from the previous day’s close.
The market’s momentum was driven by expectations of MSCI rebalancing inflows and anticipation of the upcoming CPI data release. With August CPI expected near 10%, investors were optimistic about market movements.
Bolstered by Moody’s rating upgrade and strong corporate earnings, the market saw significant contributions from companies like EFERT, FFC, MTL, NBP, and COLG. Additionally, the day witnessed high trading volume with HASCOL emerging as the most actively traded stock.
Recent developments like Moody’s positive outlook on Pakistan’s rating and ECC’s approval of a remittances incentive scheme contributed to the market’s bullish sentiment. Overall, the market displayed resilience and promise for further growth.
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