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Stocks edge lower amid lack of triggers
KARACHI: The stock market was on a sleepy place for yet another day on Friday as investors’ interest in trading was at low ebb.
The KSE-100 index drifted aimlessly in search of clear direction settling lower by marginal 20.31 points at 40,486.67 after touching the intra-day highs and lows of 139 and 146 points respectively.
The only positive news flow was of the great expectations from the week end visit of the Saudi Crown Prince and the signing of investment packages.
On the other hand, uncertainty looms over the International Monetary Fund (IMF) bailout package as staff-level negotiations continue amid government’s reluctance to accept stringent conditions.