Equities drift lower on lack of triggers
Trading on the Pakistan Stock Exchange (PSX) remained sluggish on Thursday, with share prices moving sideways. Low trading volumes and a lack of positive triggers contributed to the benchmark index’s continued losses. Ahsan Mehanti of Arif Habib Corporation said the market closed lower as investors eye corporate and provincial tax reforms ahead of IMF approvals for the budgetary proposals for 2025-26. “Uncertainty regarding IPP deals and the outcome of tax reforms under the first review of the $7bn Extended Fund Facility next week contributed to a bearish market close,” he added. Topline Securities Ltd said the local bourse experienced a range-bound session as investor sentiment remained mixed due to a lack of market-moving triggers. The benchmark index fluctuated between an intraday high of 595 points and a low of 133 points. It eventually closed at 113,784 points, reflecting a modest decline of 78 points or 0.07 per cent day-on-day.