The Pakistan Stock Exchange (PSX) saw great volatility on Monday, increasing by 1,347.55 points to a maximum intradic of 116,658,94 points before sliding at 620.75 points to fall to 114,848,59.
Samiullah Tariq, Chief of Research of Pak-Kuwait Investment Company, said PakGazette.tv that the market decrease was due to the profits after the strong increase before the session.
The PSX had open strongly, promoted by positive developments during the weekend, including the successful diplomatic efforts of Pakistan in the United Nations Security Council with respect to Pahalgam’s attack.
Initially, this had promoted investor confidence, continuing the impulse of last week when tensions between Pakistan and India led to significant market volatility.
In addition, progress reports in commercial negotiations between the United States and China helped relieve the fears of prolonged commercial war, raising the feeling in world capital markets, including that of Pakistan.
China, by denying the ongoing fees negotiations, exempt some assets of the United States of retaliation tariffs, indicating a slightly softer posture. He has also asked Washington to put an end to threats and pressure tactics to create an environment conducive to dialogue.
“The improvement in international feeling contributed to a positive atmosphere in local markets,” said Mustafa Mustansir, director of Business Research and Development at Taurus Securities Limited. PakGazette.tv.
The positive image of Pakistan in the World Bank and the FMI spring meetings also supported the upward feeling, along with the robust corporate profits reports. However, despite the initial increase, investors chosen profits at the end of the session, which led to the eventual market decrease.
