KARACHI: Stocks are predicted to remain stable as investors are reluctant to venture outside of the safety of the sidelines this next week due to political worries.At the Pakistan Stock Exchange, the KSE-100 index increased by 1,237 points, or 2.95%, to close at 43,093 points (PSX).
In its weekly market review, Arif Habib Ltd (AHL) predicted that the market would fluctuate next week because investors were generally perceived as being cautious given the political commotion in the nation.The market will profit from any good news resulting from the finance minister’s visit to the United Arab Emirates and the IMF’s ninth review, according to the brokerage.
This week’s market started off well since China ($9 billion) and Saudi Arabia ($4 billion) are set to provide the nation with $13 billion in finance.The momentum continued throughout the week as Mohammed bin Salman Bin Abdulaziz Al Saud, the Crown Prince and Prime Minister of Saudi Arabia, was scheduled to visit Pakistan on November 21 and was anticipated to announce a number of investment projects.
The crown prince, however, cancelled his trip to Pakistan on Saturday. The visit is being rescheduled, according to Mumtaz Zahra Baloch, spokeswoman for the foreign ministry.
