ISLAMABAD: The buying momentum continued at the Pakistan Stock Exchange (PSX) on Monday as the benchmark KSE-100 Index gained 1,067.80 points.
The market closed the trading session at 118,383.38, reflecting a gain of 0.91%.
On Monday, a total of 672,443,910 shares were traded as compared to 425,121,963 shares on the previous trading day, whereas the price of shares stood at Rs 36.424 billion against Rs 34.495 billion on the last trading day.
As many as 449 companies transacted their shares in the stock market, 251 of them recorded gains and 157 sustained losses, whereas the share price of 41 companies remained unchanged.
Last week, rating agency Fitch upgraded Pakistan’s foreign currency credit rating to ‘B-’ from ‘CCC+’ while citing increased confidence in the country’s progress in narrowing its budget deficits.
Asian equities and US stock futures declined on Monday, while the dollar weakened, as concerns over tariffs and President Donald Trump’s public criticism of the Federal Reserve weighed on investor sentiment. The uncertainty helped push gold prices to a new high.
Tensions rose after Trump launched a series of verbal attacks on Fed Chair Jerome Powell last Thursday.
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Reports indicated that the White House was exploring the possibility of removing Powell—an action that could have major implications for the Federal Reserve’s independence and global financial markets.
With most markets closed on Friday and some still on holiday for Easter Monday, trading remained thin.
The S&P 500 futures dropped 0.64%, and Nasdaq futures slipped 0.53%. In Asia, Japan’s Nikkei shed 1%, while South Korea’s benchmark index held steady.
