KARACHI – Pakistan Stock Exchange saw bullish trend on first day as investors cheered sovereign credit rating upgrade and wave of blockbuster corporate earnings. KSE-100 Index skyrocketed over 1,500 points during intraday trading, closing at 148,003.52 – a stunning 1.03% gain.
Buying sprees swept through major sectors including banking, cement, fertilizers, and oil & gas, while heavyweights like HUBCO, SNGPL, OGDC, and UBL dominated the green zone. Analysts credit the rally to strong corporate performance and hopes of slashed interest rates.
The excitement intensified after Moody’s upgraded Pakistan’s credit rating to Caa1 from Caa2, citing improved fiscal policies and IMF program progress. This move sent investor confidence soaring, sparking one of the market’s most bullish sessions in months.
Globally, risk-on sentiment fueled gains in Japan, Taiwan, and China, while oil prices eased. Eyes now turn to the Jackson Hole symposium later this week, where the Federal Reserve’s policy signals could set the stage for the next global market surge.
PSX rally underscores growing optimism that Pakistan’s economy is on a recovery path, leaving investors exhilarated and hungry for more gains.
Moody’s upgrades Pakistan’s credit rating to Caa1 with stable outlook
