posted another major dec\u00adline<\/a> of 1.5 per cent due to investor concerns over political noise and security unrest in the country. It was the fourth consecutive drop on the market, with the KSE-100 index having lost nearly 3,000 points since last Wednesday.<\/p>\nToday, the KSE-100 index gained 426.48, or 0.69 per cent, to stand at 62,268.22 from the previous close of 61,841.74.<\/p>\n
Mohammed Sohail, chief executive of Topline Securities, cited \u201cease in foreign selling\u201d as the primary reason for market rebound.<\/p>\n
Tahir Abbas, head of research at Arif Habib Limited, said that market remained bullish as the foreign-selling witnessed in the last three to four days eased.<\/p>\n
He added that the recent correction made the valuations more attractive, coupled with \u201cspectacular results announcement by companies\u201d had enticed investors.<\/p>\n
Khaldoon bin Latif, chief executive of Alfalah Asset Management Limited, said that a leading global exchange-traded fund (ETF) had \u201cannounced the scheduled liquidation of multiple ETFs\u201d, including in Pakistan.<\/p>\n
An ETF is a bundle of assets that can be traded on the stock market. Traded on the exchange like an ordinary stock, ETFs let investors take exposure to a basket of companies while combining high returns of direct stock investing with the diversified base offered by mutual funds.<\/p>\n
Latif attributed the fall in capital markets over the last few days due to \u201cthis outflow from the ETF\u201d.<\/p>\n
\u201cWith the ETF liquidation almost complete, the market has rebounded as corporate earnings and energy reforms come back into the forefront,\u201d he said.<\/p>\n
\u201cWith strong earnings growth expected in multiple sectors, especially the banks, market is expected to recover going forward,\u201d he added.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Bulls returned to the Pakistan Stock Exchange (PSX) on Wednesday as the KSE-100 index gained over 400 points in early morning trade. On Tuesday, the stock market had posted another major dec\u00adline of 1.5 per cent due to investor concerns over political noise and security unrest in the country. It was the fourth consecutive drop […]<\/p>\n","protected":false},"author":2,"featured_media":54601,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/i.dawn.com\/large\/2024\/01\/31140716fb6967c.jpg?r=141648","fifu_image_alt":"","footnotes":""},"categories":[13],"tags":[],"class_list":["post-54600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t