Pakistan Stock Market: Amidst the uncertainty in the global market, Pakistan’s stock market is surprising. On one hand, a big decline is being seen in the stock markets of the world including India. On the other hand, Pakistan Stock Exchange (PSX) is making new records. Today on Monday, the benchmark KSE-100 index of Pakistan Stock Exchange had increased by 712.77 points or 0.85% to reach 84,244.72. During trading, Pakistan’s stock market crossed the mark of 85,000 points and created a new record. Let us tell you that this rally has come at a time when major world indices like Asia and Europe are facing instability.
What is the reason for the rise?
Pakistan’s market has got a boost from key sectors including oil, gas, banking and cement. Oil and gas sector has especially contributed, in which stocks like Oil and Gas Development Company (OGDC), Pakistan Petroleum Limited (PPL) and Pakistan State Oil (PSO) have seen tremendous growth. Let us tell you that there are many reasons for the rise in Pakistan’s stock market. These include decisions necessitated by improved economic conditions, especially reduction in inflation and stabilization of monetary indicators. Investors are expecting a significant cut in the policy rate, which may further improve the market performance. At the same time, the International Monetary Fund (IMF) has also approved a loan of $7 billion for Pakistan to help the South Asian nation stabilize its economy. According to experts, Islamabad will get it in installments in 37 months. Its aim is to boost Pakistan’s struggling economy. “The decline in yields has increased interest in the stock market, as low fixed income returns have prompted investors to seek higher yields in equities,” Yousuf M Farooq, director of research, said, according to Pakistani news website Down. “
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condition of indian stock market
Let us tell you that the local stock markets declined for the sixth consecutive trading session on Monday and the BSE Sensex fell by 638 points. Whereas NSE Nifty remained at a loss of 219 points. The market fell due to selling in shares of big companies like HDFC Bank and Reliance Industries amid mixed trend in global markets and withdrawal of foreign institutional investors. The 30-share BSE Sensex closed at 81,050 points, down 638.45 points or 0.78 percent. At one time during trading it had fallen to 962.39 points. National Stock Exchange’s Nifty also closed at 24,795.75 points with a decline of 218.85 points or 0.87 percent. Among the companies included in the Sensex, Adani Ports and Special Economic Zone, NTPC, State Bank of India, PowerGrid, IndusInd Bank, Axis Bank, HDFC Bank, Titan and UltraTech Cement were major losers.
