Amid economic advances, the PSX continues its bullish path.
The Pakistan Stock Exchange (PSX), which gained 900 points on Thursday, continued its upward trajectory.
In the early hours of trade, the KSE-100 index increased by 117,013 points.
The PSX started trading on a good tone the day before due to the government’s statement of economic improvements, but it ended the day on a bearish note on Wednesday. It gained 385 points and closed at 116,775 points.
As the world was gripped by increased uncertainty brought on by US President Donald Trump’s tariff announcements, volatility persisted in the PSX over the last week. Trump then announced a 90-day reprieve, which helped equities around the world rebound.
Following the US president’s announcement of a tariff reprieve, Prime Minister Shehbaz Sharif’s successful visit to Belarus, the jump in remittances, and other encouraging signs revealed by State Bank of Pakistan Governor Jameel Ahmad, investor confidence in Pakistan has increased.
Pakistan’s foreign currency credit rating was raised from CCC+ to B- by international agency Fitch on Tuesday, citing growing confidence in the nation’s efforts to reduce its budget deficits.
According to Fitch, the upgrade also shows confidence that the nation would carry out structural changes, bolstering the performance of its International Monetary Fund (IMF) program and funding availability.
