ISLAMABAD (Newsman): A bullish trend keep its touch at the Pakistan stock market for last few days, with some minor technical adjustment, as shares at the Pakistan Stock Exchange (PSX) jumped more than 800 points in intraday trade on Tuesday.
Benchmark KSE-100 index swelled to 812.70 points, or 0.86%, to touch at 95,808.37 points from the last close of 94,995.67 points at 11:08am during Tuesday mid-day trade.
There were host of factors contributing to this upish trend. There are few risks too.
Media reports showing that there is expected no min-budget and a positive signal came from the IMF have given rise to such a upbeat mood at the market, pushing the maintenance of a positive rally, says an analyst.
However, the traders also showed caution saying that some analysts are saying, “Stay cautious due to the murky political circumstances, which could ruin this momentum hard and negatively”.
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“Mutual funds and numerous investors are actively seeing the hike in stocks, and further flows are expected to persist as mark-up rate is also hoped to cut further in December,” the traders suggested, adding that the “Actual main risk at this point coming from the political situation”.
Key figures are positive too now. According to the SBP data, given out on Monday, says the country registered a third straight monthly current account surplus of $349m in October as compared to $86m in the last September, showing positive trends of data with coupled with continued stance of the authorities’ policy to curb imports.
