KARACHI: On the New York Mercantile Trade (NYMEX) crude oil dropped 5 % on US oil inventories pile up. In Pakistan, the index fell 362 factors closing the session at forty nine,392 factors.
Chatting with Geo.television Mohammed Sohail, CEO Topline Securities claims the native oil sector adjusted to NYMEX costs.
The market, nevertheless, has different views as properly, some consider the market is reacting because of the motion by the Securities and Trade Fee of Pakistan, however Arif Habib Analysis thinks in any other case, “market has no worry of SECP’s motion however there’s a concern on Panama, minus that market is nearly able to proceed north”, including the rally might occur anytime says Arif Habib Analysis.
Arif Habib Analysis believes, by December the Index will attain fifty four to fifty six thousand vary.
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