Karachi, July 25, 2023 – Pakistan equities continued their upward trajectory on Tuesday, gaining 362 points at the close of the trading day.
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) concluded the day at 46,417 points, showing a significant increase from the previous day’s closing value of 46,055 points.
Financial analysts at Topline Securities reported that the positive momentum in Pakistan’s equities market persisted, driving the KSE 100 index to its closing value of 46,417 points. The notable gain can be attributed to the ongoing rally in the banking and energy sectors, which contributed to the overall market performance.
Throughout the trading hours, sectors such as banking, fertilizers, exploration and production (E&P), and automobile played a key role in bolstering the index. Notably, Habib Bank Limited (HBL), Oil and Gas Development Company Limited (OGDC), Bank Al-Habib Limited (BAHL), MCB Bank Limited (MCB), and Habib Metropolitan Bank (HMB) collectively contributed 206 points to the index with their share prices on the rise.
However, some companies experienced a decline in their stock values, slightly offsetting the overall gain of the index. Companies such as Dawood Hercules Corporation (DAWH), JDW Sugar Mills (JDWS), Thal Limited (THALL), and The Searle Company Limited (SEARL) collectively lost 18 points during the day.
The Pakistan Stock Exchange saw an active trading session, with approximately 319 million shares changing hands. The total value of shares traded during the day reached Rs10.2 billion. Among the companies, WorldCall Telecom (WTL) led the volumes chart, with the trading of 41 million shares.
The consistent upward movement in Pakistan equities demonstrates the positive sentiment prevailing in the market and suggests growing investor confidence in the country’s economy. Market participants will be closely monitoring the performance of key sectors in the coming days to gauge the sustainability of this bullish trend.
