Karachi, October 9, 2023 – The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) recorded a gain of 228 points on Monday, closing at 47,923 points compared to the previous Friday’s closing of 47,494 points. This positive performance came despite early selling pressure.
READ MORE: Pakistan Stock Market Anticipates Positive Momentum for Upcoming Week
Analysts at Topline Securities noted that the KSE-100 index initially entered the red zone during early trading hours but saw a resurgence of buying interest in the last hour, which helped the benchmark index settle at 47,722 points, representing a gain of 228 points or 0.48 percent for the day.
The early-day selling pressure was attributed to the increase in international oil prices following the Middle East conflict between Israel and Hamas forces, which escalated over the weekend.
READ MORE: Pakistan Equities Make Nominal Gain on Last Weekly Trading Session
During the trading day, the Power, Bank, and Fertilizer sectors made positive contributions to the index. Companies like HUBC, FFC, BAHL, UBL, and MCB collectively added 304 points. On the flip side, some profit-taking was observed in companies like HBL, DAWH, and COLG, resulting in a combined loss of 50 points.
Trading activity at the PSX was active, with over 233 million shares changing hands, amounting to a total value of Rs 7 billion. K-Electric (KEL) led the volumes chart with trading of 38.5 million shares.
READ MORE: Pakistan Stock Market Rises 372 Points as Global Oil Prices Decline
The Pakistan Stock Exchange continues to demonstrate resilience, with investors navigating global and domestic uncertainties to capitalize on investment opportunities in the country’s stock market.
