Stock market continues positive momentum amidst fluctuations

KARACHI: Since the beginning of the current trading week on Tuesday, the stock market has followed a similar trend of volatility in the early hours of the trading session.

Pakistan Stock Exchange (PSX) has been posting a mix of gains and losses, eventually culminating into a positive end for the better part of the week.

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On Friday, benchmark KSE-100 index started the day on a positive note with gradual hike, but very soon posted steep gains followed by steep losses. By 11 AM, the index was seen hovering at 64,824.47 points, showing 185 points gain after opening at 64,639.15 points. This came after the share market touched the highest of the morning at 64,609.31 points.

The growth in the index was not limited to any sector but the stocks seen leading the green movement mostly belonged to the energy sector.

Investor speculation fueled by major earnings’ announcements expected for the upcoming week, forex and rupee’s stability and potential positive news from IMF’s tranche review in January, are all adding to the hopeful-uncertainty for the traders in the market.