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Pakistan equity market remains volatile

Pakistan equity market remains volatile

Pakistan equity market remains volatile

Pakistan equity market remains volatile

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  • The KSE-100 Index closed at 41,723.32 points, up 200.6 points, or 0.48 per cent.
  • An analyst at Pearl Securities said the market; however.
  • The All-share volume increased 0.4 per cent to 298 million shares against 297 million shares the previous trading day.
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KARACHI: The Pakistan stocks witnessed volatility during Wednesday’s trading session on the back of uncertainty that the ongoing discussions pertaining to the government’s gas circular debt with the International Monetary Fund (IMF) would not reach a successful agreement, analysts said.

An analyst at Pearl Securities said the market; however, largely reflected confidence in the government’s ability to get the IMF’s approval for the gas circular debt plan.“Further, volumes during the trading remained in the higher range and the market outlook appears to be relatively healthy.”

The KSE-100 Index closed at 41,723.32 points, up 200.6 points, or 0.48 percent. The All-share volume increased 0.4 per cent to 298 million shares against 297 million shares the previous trading day.

Ahsan Mehanti at Arif Habib Corporation said that the stocks closed bullish after the rupee recovered strongly on the likely IMF deal and strong corporate results in the banking sector.

“Speculations over likely corporate payouts to settle the circular debt crisis and restructuring debt repayments after the resumption of the IMF programme played a catalytic role in the bullish activity.”

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Going forward, the analysts expect volatility to persist in the benchmark KSE-100 Index until the IMF’s ninth review can be successfully concluded.

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