KSE-100 surges 881 points on positive economic signals

Karachi: The Pakistan Stock Exchange (PSX) regained its upward momentum on Thursday, recovering from earlier losses as investors reacted positively to several encouraging economic developments.

The benchmark KSE-100 Index closed at 116,901.13 points, gaining 881.03 points or 0.76% from the previous close of 116,020.10. During the session, the index hit a high of 117,216.02, rising by 1,195.92 points (1.03%), while the day’s low was 115,818.07, showing a minor dip of 0.17%.

Market experts said the rise was driven by Fitch Ratings’ recent credit upgrade, easing global oil prices, and improving economic indicators. Ahfaz Mustafa, CEO of Ismail Iqbal Securities, said, “Investors are reacting positively to Fitch’s upgrade, the resolution of circular debt, and a significant drop in oil prices. Expectations of lower inflation and tax relief on real estate are also boosting sentiment.”

Earlier this week, Fitch Ratings upgraded Pakistan’s long-term foreign-currency issuer default rating from ‘CCC+’ to ‘B-’ with a stable outlook, citing better fiscal management, a stronger external account, and improved macroeconomic policies under the IMF programme.

Investor mood was further improved by March inflation data, which showed the Consumer Price Index (CPI) rising just 0.69%, the lowest monthly rate in more than seven years.