KSE closed on a Bearish note, losing 519 points or 1.12% to close at 46,008.85 points.

The market closed in red yesterday for the third session in a row confirming the break below the medium-term trend line and paving the way for more declines.

KSE100 opened with a positive note and remained volatile throughout the last trading session. KSE100 posted a high of 306 points, a low of 752 points. Overall Trading volumes increased by 132.4 million shares as compared to the previous day volumes of 75 million shares.

Investors remain wary as State Bank of Pakistan announced roll back of Stimulus Measures which were in place since March-2020.

Yields in the money market were up by average 20bps in the short term. In Bond market, 3 years PIB yield was up by 39bps.

Market sentiments are expected to remain bearish in the short term until any positive trigger kicks in.

KSE100 Index has short-term target support at 45,500 points.

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