Post-election uncertainty causing blood path at PSX today

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Another big down day to take post-election declines to -4.88%.

Only 3 stocks rose while 88 shares fell, with OGDC PA (-7.5%), PPL PA (-7.5%), and MARI PA (-5.59%) biggest contributors to index declines.

MSCI will announce the results of the February 2024 Index Review later today which could be beneficial for Pakistan concerning passive flows at the end of the month.

February again proves to be a seasonally weak period for Pakistan equities and until clarity on the political situation emerges bias remains to the downside.

Break of structure targets 59k in the near term.

Courtesy – Arif Habib Ltd Sales 

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