Stocks moved in a tight band on Friday, as mutual capital activity, strong profits and optimism for the financial prospects kept the stock market stable.
The Pakistani Stock Exchange (PSX) reference index went up to an intra-ended high of 147,534.41, earning 1,005.11 points or 0.69%, before falling to a low 146,894.62, reflecting 35.22 or 0.02%.
“It is an activity that is bound by the region today, led by the times of liquidity and profits of mutual funds.
“The best results, expectations to further improve the economic environment are leading to the market,” said Samiullah Tariq, head of research and development at Pakistan’s investment company Kuwait.
Moody’s has upgraded Pakistan’s credit rating from CAA2 to CAA1, reporting an improved external position and progress in the reforms under the Extended Funded Fundy Funded (EFF) program of the International Monetary Fund.
The Agency noted that foreign exchange reserves are likely to continue to improve, although they depend on timely funding by official partners, while fiscal support is supported by a wider tax base. However, he warned that debt affordability remains among the weaker worldwide, with governance and political uncertainty still high.
This marks the Tuesday upgrade in four months, following similar moves to S&P’s global ratings and Fitch ratings, backed by the commitment of Prime Minister Shehbaz Sharif’s government for fiscal integration and reforms.
On the front of the performance, Pakistan secured the top global point for USD stock yields in relation to FY24 -FY25 data, showed Bloomberg data. In FY25 alone, Pakistan ranked the eighth worldwide, but surpassed regional peers, returning much more than India’s BSEx (+3.2%), China (+14.8%) and India’s wider market (+6%), according to AHL data.
The last monetary policy report of the Pakistani State Bank (SBP) (MPR) predicted GDP growth to 3.25-4.25% FY26 and the current account deficit between zero and 1.0% of GDP.
With a policy of 11% in June and July, the SBP expects that the actual policy rate will remain positive to stabilize inflation within the target. Stocks are projected to reach $ 15.5 billion by the end of December 2025, backed by projected financial inputs and continuing SBP FX markets.
On Wednesday, the KSE-100 decreased by 476.02 points, or 0.32%, to 146,529.31 points from 147,005.32 points recorded in the last meeting. The highest indicator of the day remained at 147,892.25 points, while the lowest level was recorded at 146,417.8 points.
a href=”https://www.geo.tv/latest/618931-psx-climbs-on-strong-results-improved-economic-outlook”>Source link
