KARACHI: The Pakistan Stock Exchange (PSX) extended its bullish run for the eighth consecutive week, underpinned by Moody’s sovereign rating upgrade, strong corporate earnings and optimism over policy continuity. Despite intermittent volatility, the KSE-100 index touched an all-time high of 147,005 points during the four-day trading week before settling at 146,492 points on Friday, gaining 1,109 points or 0.8 per cent on a week-on-week basis.

Analysts attributed the uptrend largely to mutual fund buying and improved sentiment following Moody’s decision to raise Pakistan’s rating to Caa1 with a stable outlook from Caa2. The upgrade reflected progress on external buffers, fiscal consolidation and reforms under the IMF programme. The index’s resilience also mirrored a broader shift in market confidence, even as challenges such as circular debt payments and weak monthly auto sales weighed on specific sectors.

According to Topline Securities, the average daily traded volume rose 8pc week-on-week to 606 million shares, while the traded value increased 13pc to........

© Dawn Business