KARACHI (Web desk) – Pakistan Stock Exchange (PSX) has witnessed cautious trading on Thursday ahead of a meeting of the International Monetary Fund (IMF) for taking decision on release of loan tranche to the South Asian country.
During intraday trading, the benchmark KSE-100 Index touched a high of 166,467.58 points, up 322.24 points, or 0.19%, and retreated to a low of 165,999 points compared to the previous close of 166,145.34 points.
The investors also weigh the 11th meeting of the National Finance Commission (NFC), responsible for the distribution of financial resources between the federation and the provinces. The commission will also take the IMF on board.
Sources said that recommendations regarding the award and a review of forming sub-groups are part of the agenda. A strategy for future meetings will also be formulated.
A day earlier, the benchmark index on Wednesday closed on a negative note, falling by 1,496.93 points, a decline of 0.89 percent, to settle at 166,145.35 points compared to 167,642.28 points on the previous trading day, according to PSX data.
During the session, the ready market recorded a trading volume of 593.078 million shares with a traded value of Rs44.424 billion, from 775.539 million shares valuing Rs37.494 billion in the previous session. Market capitalization slightly decreased to Rs18.915 trillion from Rs19.031 trillion.
Out of 473 active companies in the ready market, 136 closed higher, 291 declined, while 46 remained unchanged.
