PSX: Week opened on a Negative trend for the Index

KARACHI: For the most of the previous trading week, the Pakistan Stock Exchange (PSX) was able to keep rising. Nonetheless, it appeared that the index was in a gloomy mood throughout the final two trading days of the week. The index started this week on the downward trend once more, plunging to 63,149.46 points from its opening position of 63,813.06 points.
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This indicates a drop of almost 600 points till the midday break. The index’s sector-wise distribution revealed both bullish and pessimistic sentiments, with Worldcall Telecom and Pakistan Petroleum remaining in the red and PIA, Pakistan Refinery, and Treet Corporation trading in the green.
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The uneven performance of the index can be ascribed to other elements, such as the escalating geopolitical tensions resulting from the execution of Pakistani laborers in Iran by gunmen, and the anticipation of an increase in fuel prices. The stock market will be supported, nevertheless, by the strengthening Pakistani Rupee (PKR) to US Dollar (USD) parity and the anticipated post-election economic stability.

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