KARACHI: Bulls managed to extend their hold at the Pakistan Stock Exchange (PSX) for the second day as positive news from the industrial sector and hopes of inflow of funds from the World Bank kept investors busy in selective buying. However, some negative news from the security front and COVID-19 infection spread may lead to profit taking at the later part of the day, traders and analysts said.
KSE-100 Index was trading at 47,545.88 points up 65.38 points up from the previous day close. The share prices were at the levels where fresh buying becomes attractive and the news that indicated the release of funds by the World Bank to Pakistan helped the market regain momentum, traders and analysts further added.
Pakistan is likely to receive a $400 million loan from the World Bank in August, according to the sources. The Economic Affairs (EAD) Division officials have contacted World Bank officials recently to disburse $400 million by next month.
