Pakistan stock market begins week with gain of 58.32 points

Pakistan stock market begins week with gain of 58.32 points

KARACHI: Pakistan stock market has started the week on a positive note, with an increase of 58.32 points after mixed trading session.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 40,000.37 points from last trading day of March 24, 2023 at 39,942, showing a gain of 58.32 points.

READ MORE: Weekly Review: PSX investors’ sentiments linked to IMF program

Analysts at Arif Habib Limited said that the PSX begun the week with a mixed session.

The benchmark KSE-100 index started in the red, but trends gradually shifted as the index traded both ways.

However, due to the delayed review of the IMF’s Extended Fund Facility and continued political uncertainty, investors were hesitant, which led to a decrease in trading volumes across all sectors.

READ MORE: Pakistan stocks plummet by 434 points on negative sentiments

Sectors contributing to the performance include Technology & Communication (+48.3 points), Fertilizer (+32.5 points), Commercial Banks (+6.0 points), Cement (+6.0 points), and Chemical (+3.9 points).

Volumes increased from 46.7 million shares to 64.5 million shares (+38.1 per cent DoD). The average traded value also increased by +93.3 per cent to USD 8.8 million as against USD 4.5 million.

Stocks that contributed significantly to the volumes are WTL, MEBL, TELE, FCCL and TRG.

READ MORE: Pakistan stocks shed 40 points in range bound trading

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