Karachi, August 28, 2023 – Pakistan equities faced a challenging start to the week as they shed 193 points in a session marked by dwindling market participation.
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) concluded the day at 47,478 points, down from the previous Friday’s closing figure of 47,671 points.
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Analysts at Zafar Securities attributed this decline to a multitude of factors, primarily pointing to the conspicuous drop in market participation. Here’s a closer look at the key details from the day’s trading activity:
The KSE-100 index experienced a loss of 193 points, signifying a bearish start to the new business week.
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A noteworthy feature of the day’s trading was the sharp decrease in market participation. Total market volumes recorded a significant decline of 44.73 percent, with only 234.8 million shares traded, valued at Rs 8.9 billion. This starkly contrasted with the previous session, which saw 425 million shares traded, amounting to Rs 14.1 billion in trading value.
Of the 313 active stocks on the exchange, 199 declined in value, while 92 advanced. A total of 22 stocks remained unchanged.
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The most actively traded stocks included KEL, BIPL, KTML, WTL, and NCPL. These stocks witnessed trading volumes of 19.2 million, 16.6 million, 10.4 million, 103.3 million, and 8.2 million shares, respectively.
The decline in market participation, coupled with the bearish performance of a significant number of stocks, weighed heavily on the KSE-100 index. Investors and market participants will be closely monitoring developments in the coming days to assess whether this trend persists or if there are signs of a potential market recovery.
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As economic conditions and external factors continue to shape Pakistan’s equity market, analysts are keenly observing the evolving landscape for potential cues on investor sentiment and market dynamics.
