Pakistan Stock Market Outlook 1-July-2019

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Pakistan Stock Market Outlook 1-July-2019

The index opened on a flat note and remained volatile throughout the last trading session closing positive with a traded volume of 149 million shares.
The benchmark KSE-100 closed with a gain of 127 points. During the intraday, KSE-100 touched a low of 365 points and a high of 162 points.

Outlook

Benchmark KS-100 is likely to move in a range as investors remain cautious over the recessionary phase and economic contraction. The Market expects inflation and Interest Rates to rise further which is keeping sentiments low.

Pakistan has received $500 million from Qatar as a part of $3bn deposits will is expected to provide some support to Rupee.

Market participants maintain a cautious stance with scrip specific buying in E&Ps, Banks & Fertilizer Sectors while cyclical sectors are being abandoned including Cement, Autos and Steel owing to a slowdown in demand, rising interest rates and increased taxes which may impact the profitability.

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