KARACHI: The stock market will remain closed during next week owing to week long holidays announced by the government for Eid ul Fitr.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) increased by 2 percent WoW basis.
Analysts at Topline Securities said that major events during the outgoing week were: April 2021 CPI inflation clocked in at 11.1 percent YoY; Trade deficit increased by 21.5 percent to $2.731 billion in April 2021; ECC of the Cabinet approving payment of Rs89.86 billion as first installment of 40 percent to 35 IPPs; Trade deficit for April 2021 clocking in at $2.994 billion (up by 33 percent YoY and down 9 percent MoM); and Finance Minister Shaukat Tarin statement where he expressed that Pakistan will not leave the IMF program but will try to convince them that there is no space for increase in power tariff and taxes.
