Karachi – Buoyed by the fresh Fitch report following the Muharram holidays, the stock market resumed its upward trend, gaining 525 points and bringing the KSE-100 index to a record high of 81,600 points at the beginning of the day.
The recent scaling of new high in the PSX is thought to be mostly related to the Staff-level deal signed with the International Monetary Fund (IMF) last week.
Furthermore, optimistic reports on fiscal stability published by major financial agencies such as Moody’s and Fitch have helped to enhance investor confidence.
According to these reports, reaching an agreement with the global lender would allow the crisis-ridden country to achieve macroeconomic stability.
It should be noted that the equities were trading at 81,155 points on the last day of trading at the PSX before the Ashura vacations.
Stocks record-breaking spree continues amid hopes of economic turnaround
Popular Categories
Previous article![]( "PTI to move SJC against ‘arbitrary’ appointment of ad hoc judges")
Next article![]( "Assassinations and attacks – Blood-stained US history")
