Stocks Observer. com

By Farhan Bokhari Islamabad: The subdued atmosphere surrounding Pakistan's stock market outlook has failed to go away despite the International Monetary Fund (IMF) stepping into the equation. The IMF's decision to bailout Pakistan's economy has lifted the country's liquid foreign currency reserves significantly. Unlike the situation two months ago, Pakistan is nowhere near the brink of its first ever default on foreign debt payments - a fear that had provoked much flight of capital from the South Asian country. Artificial floor But still, for many looking at the stock market, there may not be immediate relief in sight. The KSE-100 index of the Karachi stock exchange on Friday closed at approximately 5,793 points, after gaining a marginal 40.38 points on that day. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- The KSE-100 index has lost much ground since the

National Investment Trust (NIT) announced on Saturday the resumption of dealing in its units with effect from January 5. “The removal of suspension has been duly intimated to the Trustee (NBP-Trustee) and notified to the Securities & Exchange Commission of Pakistan,” a press statement said. Earlier, managers of equity funds had suspended pricing, issuance and redemption of their respective units with the approval of SECP, as they were running short of money and the imposition of floor at stock markets hampered calculation of accurate issuance and redemption prices of the units.