Experts predict Pakistan’s stocks will rise 25 per cent this year

Experts predict Pakistan’s stocks will rise 25 per cent this year

Experts predict Pakistan's stocks will rise 25 per cent this year

38 minutes ago

Stockbrokers monitor share prices at the Pakistan stock Exchange in Karachi. File/ Agence France-Presse

The benchmark KSE-100 index has given a 50 per cent return since March's crash and experts predict the rally will continue this year (2021).

However, the market has been range-bound for the past four years and has been trading between 38,000 and 43,000 points in 2020 year-end.

Range bound trading was witnessed at the Pakistan Stock Exchange in Friday's session. The KSE100 index went down by 58 points to settle at 45,931.

The market closed slightly in the positive however after the Friday break it receded into the red. Volumes continued to show a decline hinting that the index might take a clear direction in the coming week.

The index continues to hover at these levels testing a technical barrier of 46,000 before receding. Investors are hopeful that the index will be able to cross that mark in the coming week and test new highs.

Positive news on the economic front and a further curtailment of Covid-19 cases could be just the trigger that the PSX requires to hit new highs.

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