Stock Market in bearish momentum despite Foreigners Interest

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Stock Market in bearish momentum despite Foreigners Interest

The benchmark KSE-100 Index remained in the free-fall state for the third consecutive week, down by 1.1 in the week to close at 32,100 points.

Even Prime Minister Imran Khan’s successful visit to the USA, and IMF officials positive statements over Government’s economic policies failed to lift up market sentiments.

In the last trading day, the benchmark index opened on a bearish note and remained negative throughout the session ending in red with a traded volume of 67 million shares losing 343 points.

On a positive note, foreigners are a net buyer in the market with net buying of $8.4million in the week. While monthly inflows stand at $26 million. Valuations remain attractive with Benchmark KSE-100 trading at regions’ lowest PE of 5.7x.

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