KARACHI: The Pakistan Stock Exchange (PSX) extended its bullish momentum for the eighth straight week, driven by Fitch Ratings’ upgrade of Pakistan’s credit outlook and strong corporate earnings reports from key sectors.
The benchmark KSE-100 Index gained 1,074 points (1.5%), closing the week at 74,531.64, maintaining investor confidence despite volatility in global and regional markets.
Market analysts attributed the rally to improving investor sentiment following Fitch’s revision of Pakistan’s rating outlook from stable to positive, along with robust earnings declared by banking and energy companies.
“Investor participation remained strong as confidence improved over the macroeconomic outlook, supported by better-than-expected corporate results,” said Topline Securities in its market review.
Average daily trading volumes surged to 511 million shares, reflecting growing investor activity. Key contributors to the index gains included banks, oil exploration companies, and cement producers.
Looking ahead, analysts expect the market to remain positive, though caution prevails amid expectations of monetary policy decisions and external financing developments.
This story has been reported by PakTribune. All rights reserved.