KARACHI: The stock market may gain on back of normal political conditions and hope of further improvements in economic indicators during next week.
Analysts Topline Securities said that after closing positively for seven consecutive weeks, KSE-100 index of Pakistan Stock Exchange (PSX) closed in red this week due to political pressures.
The index started on a positive note this week with momentum continuing from the previous week as expectation relating to the rollover of deposit amounting US$5 billion from UAE & Saudi Arabia was reported.
A decision by special court on former president Musharraf created a situation of conflict between judiciary and establishment which weighed negatively on investors.
However IMF has completed its first review of Pakistan’s economic performance & has depicted satisfaction on improving macroeconomic situation of country which is expected to be a material positive going forward.
Based on NCCPL data, foreigners bought US$3.15 million. On the local side, Mutual Fund were seller of US$8.4 million, & Banks were seller of US$6.6 million.
