Pakistan Stock Exchange strongly reacts over the FATF initial report on Pakistan
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KARACHI – Pakistan Stock Exchange strongly reacts over the FATF initial report on Pakistan.
Positive sentiments have been prevailing among investors on Thursday as reflected by the Pakistan Stock Exchange (PSX) after reports emerged that the Financial Action Task Force’s (FATF) Working Group has expressed satisfaction over the country’s performance in measures implemented to curb money laundering and terror financing.
The benchmark KSE 100-share Index gained 235.68 points or 0.55 percent, and recovered to 42,796.95 points as of 11.29am. The Index opened at 42,646.20 points today.
Yesterday, the Index closed at 42,561.27 after losing 65.20 points. A total of 177,984,850 shares were traded with combined value of Rs9.289 billion.
In the previous week, the market closed at 43,167.77 points, while observing fluctuations in the whole week, and closed in a little bit of negative territory amid political uncertainty that marred the overall trading environment while kept investors’ sentiment subdued.
Earlier, the signing of a phase one trade deal between the U.S. and China to ease the ongoing trade war restored a bit of confidence among the investors. Domestic politics and rising reservations against the ruling party by its allies were also noticed by the investors.
Traders had opined that the market was still in search of a direction, which could be provided by the State Bank monetary policy and the herald of corporate results reporting season next week.
