PSX regains 115,000 mark on the heels of positive indicators
Business
Experts believe the upgrade of Pakistani banks by Moody’s Ratings is a key factor in rise of PSX
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) on Thursday gained momentum with key index surpassing 115,000.
Experts believe the upgrade of Pakistani banks by Moody’s Ratings is a key factor. Similarly, hope of favourable outcome of the talks with the International Monetary Fund (IMF) has added to confidence of investors.
The KSE 100-Index gained 1,009.70 points, or 0.89pc, and closed at 115,094.23 points. The intraday high was 115,247.39 and the lowest level was 14,429.93.
“We have changed our outlook on Pakistan’s banking system to positive from stable to reflect the banks’ resilient financial performance as well as improving macroeconomic conditions from very weak levels a year ago,” Moody’s said in its assessment.
