Pakistan equities witnessed mixed trading on Wednesday with the benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ending at 40,499 points, up by 51 points compared to the previous day’s closing of 40,448 points.
According to analysts at Arif Habib Limited, the PSX experienced a mixed trading session as the benchmark KSE-100 index opened in the red territory, but traded both directions due to ongoing political uncertainty.
READ MORE: Pakistan stocks gain 201 points on positive trading day
Throughout the day, investors remained cautious and sluggish in their involvement, with volumes in the mainboard drying up while 3rd tier stocks continued to dominate the volume board. The sectors that contributed to the performance include Fertilizer (+68.3 points), E&P’s (+25.7 points), Cement (+13.8 points), Chemical (+11.4 points), and Inv. Banks/Inv. Cos./Securities Cos. (+9.6 points).
READ MORE: PSX gains 41 points in mixed trading session
During the day, volumes increased from 67.5 million shares to 84.2 million shares (+24.6 per cent DoD). The average traded value also increased by +59.5 per cent to USD 12.8 million compared to USD 8.01 million. The significant contributors to the volumes were SILK, WTL, ENGRO, PPL & BGL.
READ MORE: Weekly Review: Market sentiments expected to improve with IMF program back on track
In conclusion, the PSX witnessed mixed trading on Wednesday, and investors remained cautious due to the ongoing political uncertainty. However, the rise of 51 points in the benchmark KSE-100 index and the increase in volumes and average traded value indicate a positive trend in the market.
READ MORE: PSX gains 79 points amid optimism of early IMF SLA
