Stocks close in green on value-hunting
The stock market snapped a three-day losing streak on Thursday as selective value-hunting helped the benchmark KSE 100-share index close the session in the green territory. Ahsan Mehanti of Arif Habib Corporation said the World Bank’s reaffirmation of collaborating with Pakistan in structural reforms and sustainable development contributed to the PSX’s mild recovery. After completing his three-day visit, World Bank Vice-President for South Asia Martin Raiser appreciated Pakistan’s aggressive reform agenda and expressed readiness to forge a new Country Partnership Framework with an annual review mechanism to assess progress. He said the deliberations over privatising ailing state-owned enterprises, speculations ahead of new loan talks with the IMF, and the likely visit of the Saudi crown prince to seal investment deals under the Special Investment Facilitation Council were other factors that aided bullish sentiments.