Karachi, September 19, 2023 – Pakistan’s equities managed to eke out gains of 107 points on Tuesday, despite relatively subdued trading activity throughout the day.
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) concluded the day at 45,910 points, up from the previous day’s closing figure of 45,803 points.
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Financial analysts at Topline Securities observed another day of relatively dull trading at the exchange, with the index edging up by 0.23 percent to reach the 45,910 level. Investor participation remained on the lower side, with a traded volume of 117 million shares and a total trade value of Rs4.1 billion.
The upward movement in the index was largely attributed to the contributions from several key companies. United Bank Limited (UBL), TRG Pakistan Limited (TRG), Thal Limited (THALL), Oil and Gas Development Company Limited (OGDC), and Millat Tractors Limited (MTL) collectively contributed 107 points to the index’s gains.
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However, some prominent companies such as Fauji Fertilizer Company (FFC), MCB Bank Limited (MCB), Hub Power Company Limited (HUBC), Lucky Cement Limited (LUCK), and Systems Limited (SYS) experienced a decline in value, collectively pulling the index down by -49 points.
YOUW emerged as the volume leader for the day, with a trading volume of 11.6 million shares.
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The trading session, characterized by limited activity and mixed performances across different sectors, reflects the cautious sentiment prevailing among investors. Market participants are closely monitoring domestic and international economic developments, which continue to influence investment decisions.
As Pakistan’s financial markets adapt to evolving economic conditions, investors are navigating a range of factors that impact market sentiment. The coming weeks are likely to provide further insights into the direction of the equities market as investors assess ongoing trends and developments.
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