Moody's upgrade lifts Pakistan Stock Exchange

The Pakistan Stock Exchange (PSX) on Friday opened the day on a positive note as investor confidence multiplied after Moody’s upgrading Pakistan's ratings, reported 24NewsHD TV channel. 

The PSX’s benchmark KSE-100 index gained 442.03 points, or 0.30 percent, to reach 146,971.33 by Friday prayers break.

Of the total 455 companies traded so far, share prices of 283 companies went up and that of 151 companies went down while 17 remained unchanged.

The shift in momentum reflects improved investor confidence amid growing optimism about the country's economic outlook and macroeconomic stability.

Market participants welcomed Moody’s decision, viewing it as a signal of returning stability and potential investment opportunities in key sectors.

On the last day of trading on Wednesday, the PSX had witnessed a bearish trend, losing 476.02 points, a negative of 0.32 percent, closing at 146,529.31 points.

A total of 647,094,379 shares were traded during the day as compared to  691,658,929 shares on the previous trading day, whereas the price of shares stood at Rs 40.896 billion against Rs 44.579 billion on the last trading day.

As many as 487 companies transacted their shares in the stock market, 199 of them recorded gains and 240 sustained losses, whereas the share price of 48 companies remained unchanged.

The three top trading companies were Yousuf Weaving with 51,807,110 shares at Rs 6.14 per share, Aisha Steel Mill with 48,592,372 shares at Rs12.92 per share and Bank of Punjab with 33,751,962 shares at Rs 14.26 per share.

Hoechst Pakistan Limited witnessed a maximum increase of Rs 201.10 per share price, closing at Rs 3,225.80, whereas the runner-up was Sindh Abadgars Sugar Mills Limited with Rs28.52 rise in its per share price to Rs 313.67.

PIA Holding Company LimitedB witnessed a maximum decrease of Rs328.13 per share closing at Rs 28,671.87 followed by Unilever Pakistan Foods Limited with Rs61.61 decline in its share price to close at Rs31,959.00.

Meanwhile, in the future market, as many as 323 companies traded shares in the market out of which 149 witnessed gain, 168 loss where the prices of 6 companies remained unchanged.

Reporter: Kawish Memon