KARACHI: Despite negative growth in large-scale manufacturing and the country’s posting of current account deficit, the stock market extended positive performance for the second week in a row on the back of cherry-picking in some selective sectors as investors pinned hopes on economic revival following a financing deal reached with World Bank.

The current account posted a deficit of $420 million in January, which reflected a growing pressure on the country’s foreign exchange reserves even though remittances grew by $5 billion during the first seven months of the current fiscal year.

The other depressant during the week was the LSM sector, which contracted 1.87pc year-on-year in the first half of 2024-25.

According to Arif Habib Ltd (AHL), the market commenced negatively, extending the losing streak from last week. However, the following day, the moment shifted to a positive trajectory, given the commitment of the World Bank to invest $40........

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