KARACHI – The Pakistan Stock Exchange on Wednesday has been witnessing bearish trend as negative sentiments prevail among investors after a plunge in global crude oil prices, unchanged main policy rate by the SBP at 13.25 percent for the next two months and serious reservations on the proposed New Brokers Regime raised by PSX Stockbrokers Association , as stated in a letter to the Securities and Exchange Commission of Pakistan .
Inflation rose 12.6pc in the year to December, just below an almost nine-year high of 12.7pc hit a month earlier, as rising costs for items like food put pressure on household budgets and rising oil and power prices lifted costs for businesses. Traders were of the view that after a major run-up since August last year, the index was consolidating at the current levels before moving forward. “Early trade has been witnessing much of the volatility and the index has been fluctuating from negatives to positives and vice-versa.”
The current account deficit had contracted by 75pc to $2.15 billion in the six months ending December, according to the bank’s monetary policy statement. Foreign reserves had risen more than 60pc to $11.7 billion in the past six months. Long-term U.S. Treasury yields traded above short-term yields and the Japanese yen nursed losses as investors pulled back from safe-havens in favour of more risky assets like equities.
“This is supportive of Japanese stocks. You can buy Asian shares too, but I would not get too aggressive while Chinese markets are closed.”
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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ذریعہ: DunyaNews - 🏆 1. / 83 مزید پڑھ »
ذریعہ: DunyaNews - 🏆 1. / 83 مزید پڑھ »
ذریعہ: DunyaNews - 🏆 1. / 83 مزید پڑھ »