Pakistan Stock Exchanges PSX benchmark KSE index gained points on Monday on the back of assurances by the army chief regarding ensuring transparency in the foreign exchange rate . According to the PSX website the index gained . points to close at . points from the previous close of .
points . Analyst Ahsan Mehanti attributed the gain to the army chiefs assurance over transparency in dollar rates and for bringing exchange companies into the tax net . Mehanti added that Saudi Crown Prince Mohammed bin Salmans potential visit to Pakistan this week for potentially investing in the Special Investment Facilitation Council also played a role in the bullish activity .
Meanwhile Intermarket Securities Head of Equity Raza Jafri said the KSE Index was slowly recouping some of its losses as authorities attempted to shore up confidence in the economy especially the foreign direct index and the rupee . Volumes are on the thinner side though and a cautious stance still persists.
It is possible that this watchfulness persists until more clarity emerges he added. Volumes of the market is on the thin side though, but a cautious approach still persists, he said. It’s possible that it is possible to this watchfulness persists until the watchfulness continues to persist until more clear information emerges he said he added that more clarity comes to come forth with more clarity emerge .
The index is slowly recoubles its losses. The market is slowly recovering from its losses, said Jafari said. The index was slowly recovering. The KSE is expected to return to the market’s head of Equity said. In fact, it is likely that the index is not to be back to the head of Intermarket .
.. and it’ll be back into the balance of balance of interest in the market.
