KSE-100 witnesses slight gains

KARACHI: The Pakistan Stock Exchange (PSX) opened in the green this morning. The benchmark KSE-100 index gained up to 170.33 points by 9:34AM, before settling back at a gain of 54.08 points or 0.11 per cent at 9:38AM as trading continues.

After last night’s close of 47,417.90 points, the market was hovering at 47,471.98 points as of 9:38AM.

This is another shaky opening, mirroring those of recent weeks and reflecting the general economic uncertainty currently faced by the country. While the smooth transfer of power to the interim government and the caretaker prime minister’s vow to pay acute attention to economic policy offered some hope, traders remain cautious.

Recent figures revealing the country’s budget deficit at 7.7 per cent, a total debt of Rs60.8 trillion, and a lackluster economic outlook at the moment, all contribute to patterns witnessed at the PSX.

See last week’s summary: PSX: a week in review