The KSE-100 Index posted another bullish session on Wednesday. Benchmark index opened on a positive note and remained bullish throughout the last trading session closing in green with a higher traded volume of 99.35mn shares.
The KSE-100 index closed with a gain of 589 points. During the day, KSE-100 touched a high of 631 points.
The volumes witnessed during the last trading session were comparatively higher than the previous trading session.
Investors Sentiments are likely to improve as IMF Executive board approves $6bn loan facility for Pakistan with an aims to put Pakistan’s economy on the “path of sustainable and balanced growth” while increasing per capita income.
The approval from IMF will also pave way for Pakistan’s for around US$38 billion over the program period from other international agencies/countries.
For FY2020, IMF projects 2.4% GDP growth and inflation of 13% which indicates an economic contraction in coming days along with a further increase in interest rates.
Investors remain cautious and remained focused on Energy&Ppower, Banks & Fertilizer sectors. While foreign Investors remain wary which resulted in $2 million outflows of Foreign Investment from the market.