PTBP Web Desk
The Stock Exchange (PSX) experienced a volatile trading session. The benchmark KSE-100 Index fluctuated throughout the day, reaching an intraday high of 120,285.54 points and a low of 119,250.67 points. Ultimately, the index settled at 119,689.63 points, marking a modest gain of 40.49 points or 0.03% .Mettis Global
This performance follows a significant rally in the previous week, where the KSE-100 Index surged by 12,474 points, or 11.6%, closing at 119,649 points. The rally was fueled by the announcement of a ceasefire between Pakistan and India, which bolstered investor confidence .Business Recorder
In its latest report, the International Monetary Fund (IMF) revised Pakistan’s GDP growth forecast for the fiscal year 2024-25 to 2.6%, down from the earlier projection of 3.2%. The downgrade reflects weaker economic activity in the first half of the fiscal year and ongoing global uncertainties .Profit by Pakistan Today+1Aaj English TV+1
The IMF also highlighted concerns over Pakistan’s export sector, which constitutes about 10% of the GDP. The recent imposition of a 29% tariff by the U.S. on Pakistani goods is expected to weigh on exports and economic growth. Additionally, indirect effects such as tighter global financial conditions and potentially lower remittances could further impact the economy .
Internationally, Asian shares slipped on Monday due to mixed economic data from China and concerns over U.S. tariffs. The U.S. dollar also experienced fluctuations following a surprise downgrade of the country’s credit rating by Moody’s, citing concerns about the nation’s growing $36 trillion debt pile .
Oil prices remained relatively stable, with Brent crude futures edging down to $65.36 a barrel and U.S. West Texas Intermediate crude at $62.52 a barrel. Investors are closely monitoring the outcome of Iran-U.S. nuclear talks and key economic data from China to assess the impact on global commodities demand .
Despite the recent rally, market participants remain cautious amid concerns surrounding the IMF’s conditions tied to Pakistan’s upcoming federal budget. Analysts suggest that the market’s future trajectory will depend on the government’s ability to meet these conditions and implement necessary reforms.
The PSX’s performance in the coming weeks will likely be influenced by both domestic economic policies and global market trends. Investors are advised to stay informed and consider these factors when making investment decisions.
