IMF Growth Forecast Propels PSX

Fintech, Financial-Market, PSX, Investment,

Pakistani investors restore their hopes due to the recent bullish trend in the stock market. According to the International Monetary Fund, it is predicted that this boost for Pakistan will continue. 

Being specific, the IMF has predicted for the Pakistani economy to grow 4% during the 2021-2022 fiscal year; the stock market revival had the market launch to over 1,100 points. Previous investors collected their payments prompt and invested a fracto=ion back into the boosting economy.

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Neelam Naz, the JS Global Analyst stated the KSE-100 Index to have made an exceptional recovery after viewing the attractive valuation stock board which was a result of investors’ critical cherry-picking. The combined traded volume was 389 million shares, with the significant contributors being; 

  • WorldCall Telecom (+18%) – 66.2 million shares,
  • Unity Foods (+7.5%) – 25 million shares,
  • Telecard (+7.5%) – 19 million shares,
  • Treet Corporation (+7.5%),
  • Hascol Petroleum (+0.6%).

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Ms. Naz further spoke on the healthy activities observed in the bluechip stock after ages and how she is looking forward to further improvement via prolongation of the bullish trends. 

The shares traded on October 14, 2021, were worth 13.1 billion PKR. The assets were dealt between 557 companies, of which 464 stocks closed raised, 79 declined, and 14 remained consistent.

 

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