KARACHI: The dimmed chances for releasing the first tranche by the International Monetary Fund (IMF) executive board even early next month kept market sentiments depressed, pushing the benchmark index below 78,000 despite a rating upgrade in a volatile session on Wednesday.
Ahsan Mehanti of Arif Habib Corporation said the stock market closed lower on a weak economic outlook amid reports of uncertainty over $9 billion loan rollovers.
The midsession support witnessed by Moody’s credit rating upgrade to Caa2, raising Pakistan’s outlook to positive, did help the index partially trim early losses.
He said........