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A man takes a photo of the electronic board at the Pakistan Stock Exchange, in Karachi on November 28, 2023. — Reuters
#Stocks #stay #positive #IMF #inflation #front
KARACHI: Stocks closed slightly high during the outgoing week. The market is expected to be around the IMF bailout program and inflation next week.
“The first review of the upcoming IMF mission and the bailout program will strengthen investors’ confidence,” said Brokege Arif Habib Limited.
In addition, with the ongoing result season, some scripts are expected to be highlighted in the light of strong results.
This week the market closed the market, which supported the emotions of positive investors about the improved liquidity and the IMF’s $ 7 billion expansion fund facility (EFF) on the local front.
An important development during the week was to sign a Memorandum of Understanding (MoU) between Pakistan and Iran, aimed at increasing the volume of bilateral trade to $ 10 billion. However, investors were cautious before the IMF review for the fiscal year 26 approval, closely monitoring potential corporate and provincial tax reforms. The KSE -100 index closed at 113,252 points, an increase of 450.7 points after the week, or 0.40 %. The average volume fell to 492 million shares (less than 17 % wow), while the average price fell $ 86 million (less than 0.6 percent wow).
Foreign sales continue this week compared to net sales of $ 5.1 million last week, which is $ 6.0 million. Large sales were seen in banks (9 3.9 million) followed by all other sectors ($ 1.3 million). On the local front, purchase was reported by mutual funds (61.6 million) and brokers (8 0.8 million).
Sector War positive contributions came from commercial banks (510 points), glass and ceramics (83 points), power generation (78 points), E and PS (68 points), and food (47 points). The script war was positive partnership car OGDC (206 points), MCB (203 points), Behl (176 points), MEBL (106 points), and MLCF (95 points).
The negatively cooperating in these fields was technology and communication (109 points), molecules. Bank (31 points), engineering (23 points), and insurance (21 points). The script -war negative contributions have been achieved by HBL (109 points), Marie (105 points), serials (72 points), MEHT (66 points), and Pol (57 points).
JS Research Analyst Mohammad Waqas Ghani said that KSE -100 was positive when closing 113,252 points this week, which increased by 0.4 %.
The week began with the news that a team of IMF staff would visit Pakistan to discuss the first review of Pakistan’s expansion fund facility in early March. Initial talks will be focused on the technical aspects, then there will be policy debates. According to the flow of news, the budget for the next fiscal year can also be reviewed. Meanwhile, on Monday, a separate technical mission of the IMF began talks about Pakistan’s request for an additional $ 1.5 billion to deal with climate change. “After 2.4 percent of inflation studies in January -2025, we believe that the CPI will be 6.3 percent in February -2025, which will identify the lowest levels of nine years and continue Pakistan’s current rapid discretion trend,” he said. “In view of rapid disinfection, our base case CPI is estimated at 5.7 percent of the FY 25. I closed at 279.57.
Unlike a slight increase in the week, the market closed slightly during February. Topline securities analyst Nabil Aaron said the KSE 100 Index declined by -0.88 % in the month of the month.
