Pakistan Stock Exchange (PSX) witnessed another volatile session on Thursday, with the benchmark KSE-100 Index gaining 35.29 points (+0.08 percent) to close at 42,898.44 points, after losing around 2,000 points during the last three sessions.
The market opened on a negative note and remained in the red territory for over four hours on the backdrop of weak macroeconomic fundamentals and increasing political uncertainty. However, during the last one-and-a-half hour trading, investors opted for value hunting which helped the benchmark KSE-100 index close in positive territory.
The investors remained cautious amid continuous depreciation of rupee against the US dollar, ballooning trade deficit during the current fiscal year due to a massive growth in imports, and fast depleting foreign exchange reserves.
The uncertainty regarding the 7th review of the International Monetary Fund (IMF) programme also added fuel to fire. The expected rise in the policy rate in the upcoming Monetary Policy Committee meeting also kept the investors at bay. The KSE-100 Index moved in a range of 759.23 points, showing an intraday high of 43,032.50 and a low of 42,273.27 points. Among other indices, the KSE All Share Index shed 16.18 points (-0.06 percent) to close at 29,187.05 points. while KMI All Share Islamic Index gained 73.84 points (+0.35 percent) to close at 21,044.12 points. TLTP
