PAKISTAN:
It was a broken day in the Pakistan Stock Exchange (PSX) on Wednesday, since the reference KSE-100 index moved in both directions before the end of the almost flat session.
The market opened with a strong note, playing an intra -dialy of 166,522.61 points. However, trust remained unstable and the profits were short -lived after the news that circulated that the Asian Development Bank (ADB) maintained the Pakistan growth forecast without changes to 3% and marked delays in the reforms, while the new revelations to the IMF approximately a success of $ 1 billion to flood exports added to the concerns.
Read: In Stellar Run, PSX goes up to New High
Although the Government projects a lower current account deficit and the bench on higher remittances, the cautious tone of both lend was sufficient to cushion the enthusiasm on the market. As a result, investors opted for the profits, dragging the index to a minimum of 164,155.32.
Despite the volatility, the Bourse managed to recover a closure land, ending in 165,640.34, in a flat state with a slight gain of only 0.09%, or 146.75 points.
Ktrade Securities said that the KSE-100 index closed to 165,640.34, winning 146.75 points (+0.09%). The impulse came from the names of banking, fertilizers and energy, while some pressure remained in other key sectors.
Read more: KSE-100 hits the record as investors respond to IMF optimism
In general, the negotiation volume increased to 1.63 billion shares compared to the Tuesday account of 1.34 billion. The values of the shares fell to RS69.6 billion of the figure of Tuesday of RS76.7 billion.
Actions of 486 companies were negotiated. Of these, 173 closed higher, 287 fell and 26 remained unchanged. K-Electric was the winner of the volume with the negotiation in 299.7 million shares, winning RS0.39 to close at RS7.34.
Early optimism in the session was driven by a positive feeling in selected blue chip stocks, but with the index floating near record levels, many investors chose to reserve profits. This sales pressure exceeded new purchases in the last half, maintaining the general impulse under control.
Unclear Market Directorate
Sideways Close reflects the growing precaution of investors in the midst of uncertainty about the policy of interest rates, the next corporate profits and macroeconomic indicators. While the underlying feeling remains cautiously optimistic, the additional consolidation can be in the letters unless a new trigger arises.
The volumes remained decent, but the undecided trend suggests that participants are waiting for clearer signals before making aggressive movements.
