Market stay cautious amid Trump-Imran meeting

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Market stay cautious amid Trump-Imran meeting

The benchmark KSE-100 index opened on a positive note and remained volatile throughout the trading session closing in gree with a traded volume of just 38.1 million shares highlighting the thin interest of the traders.
The index closed with a gain of 125 points. During the intraday, the index touched a high of 264 points and a low of 39 points.

The volumes witnessed during the trading session were significantly less than the weekly average as traders set aside to see the outcomes of US President Donal Trump’s meeting with PM Imran Khan.

Market participants are expecting a breakthrough in relations between Pakistan and USA. There is an increased pressure on PM Imran Khan to secure a Preferential Trade Agreement with the USA to alleviate the deteriorating trade dynamics of the country.

Moreover, availing any sort of funding from the USA will be marked as a material positive. The market mood tomorrow morning will be determined by the outcomes of the meeting where any negative outcome from the meeting will induce downward sentiments in the market which may drag towards the psychological support level of 30,000.

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