KARACHI: The stock market showed slow progress on Wednesday as the uncertain political situation has highly affected the overall volume. A leading brokerage and stock trading firm called the lack of interest by the government as the main reason for dull conditions in the stock market.
The firm forecasted a higher inflation rate in March, saying it would reach over 12 per cent, ultimately creating unfavourable conditions for asset managers.
The slight progress in the KSE-100 index came during the trading’s end. The index closed at 43,975 points after the addition of 255.8 points (0.59pc). The traded value hiked by 23.6pc while the trading volume increased by 25.1pc.
Textile composite, food, commercial banking, cement, and communications & technology were the sectors that contributed the most to the benchmark index.