PSX remains positive but cautious

KARACHI: Pakistan Stock Exchange (PSX) closed below 80,000 mark on Thursday despite posting 150 points gains, at 79,992.35 points. This comes after days of impressive rally that saw the index crossing 81,000 points mark as well.

Today, the index opens at yesterday’s closing with hopes of posting recovery of Wednesday’s losses, albeit under cautious market sentiment.

PSX climbs 150 points yet remains under 80,000 mark

On one side the stability in macroeconomic factors is lending strength to the market, in sectors like power generation and telecommunication. On the other hand, hike in inflation and decline in purchasing power are dampening sectors like banking and FMCGs.

The index is expected to maintain strength today and post gains, but with a note of caution following after the past couple of days.