KARACHI – Pakistan Stock Exchange strongly reacts over the FATF initialreport on Pakistan.
Positive sentiments have been prevailing among investors on Thursday asreflected by the Pakistan Stock Exchange (PSX) after reports emerged thatthe Financial Action Task Force’s (FATF) Working Group has expressedsatisfaction over the country’s performance in measures implemented to curbmoney laundering and terror financing.
The benchmark KSE 100-share Index gained 235.68 points or 0.55 percent, andrecovered to 42,796.95 points as of 11.29am. The Index opened at 42,646.20points today.
Yesterday, the Index closed at 42,561.27 after losing 65.20 points. A totalof 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, whileobserving fluctuations in the whole week, and closed in a little bit ofnegative territory amid political uncertainty that marred the overalltrading environment while kept investors’ sentiment subdued.
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Earlier, the signing of a phase one trade deal between the U.S. and Chinato ease the ongoing trade war restored a bit of confidence among theinvestors. Domestic politics and rising reservations against the rulingparty 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 ofcorporate results reporting season next week.
