Karachi, July 20, 2023 – Pakistan equities market witnessed a bullish trading day as the benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) surged by 303 points.
The index closed at 45,398 points, marking a notable increase from the previous day’s closing of 45,095 points, representing a growth of 0.67 percent.
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According to analysts at Topline Securities, the day was marked by a positive trading sentiment, with the market staying in the green zone throughout the session.
The buying momentum was evident across various sectors, as investors opted to take trading positions in Banking, Automobile, Refinery, and Exploration & Production (E&P) stocks.
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Notable contributions to the index came from stocks of SHEL, HCAR, NRL, ZIL, and ABOT, which added to the overall market gains. On the other hand, some profit-taking was observed in stocks of COLG, RMPL, and NESTLE during the trading session.
During the trading hours, a total of over 464.1 million shares were traded at the Pakistan Stock Exchange, with a total value of Rs. 10.1 billion. WTL (Wireless Telecom Limited) led the volumes chart with trading of over 185 million shares.
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The upbeat performance in the equities market indicates investor confidence and positive sentiment towards the Pakistani stocks. It reflects the willingness of investors to take advantage of trading opportunities in various sectors, thereby contributing to the overall growth of the market.
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As market conditions continue to evolve, investors and analysts will closely monitor the trends to gauge the sustainability of this bullish run in the coming days.