Karachi, March 5, 2024 – The Pakistan Stock Market experienced a dip of 226 points on Tuesday, concluding the trading day in a mixed trajectory.
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 65,726 points, marking a decline from the previous day’s closing figure of 65,952 points.
Analysts at Topline Securities Limited reported that the market index exhibited a mixed trajectory throughout the session, oscillating between highs of 66,135 and lows of 65,500. The day’s decline of 226 points translated to a percentage drop of -0.34%.
Several key stocks played a pivotal role in steering the market in opposing directions. Companies such as OGDC, PPL, MARI, PSO, and MTL collectively contributed to the downturn, resulting in a decrease of 228 points. Conversely, DAWH, ATRL, and TRG provided a counterbalance by adding a combined total of 96 points to the index.
OGDC (Oil & Gas Development Company), PPL (Pakistan Petroleum Limited), MARI (Mari Petroleum Company Limited), PSO (Pakistan State Oil), and MTL (Millat Tractors Limited) experienced declines, impacting the market negatively. In contrast, DAWH (Dawood Hercules Corporation Limited), ATRL (Attock Refinery Limited), and TRG (TRG Pakistan Limited) demonstrated resilience, offering support to the index.
The overall trading activity on this day saw a substantial volume of 396.3 million shares changing hands, with a combined value of Rs16.5 billion. Notably, KOSM (K-Electric Limited) emerged as the volume leader, with approximately 39 million shares traded.
Market experts pointed out that the mixed trajectory observed during the day reflected the uncertainties and varied investor sentiments prevailing in the market. Factors such as global economic conditions, geopolitical developments, and fluctuations in commodity prices are seen as influencing the market’s behavior.
Investors and traders continue to closely monitor these fluctuations and adjust their positions accordingly. The mixed performance of key sectors highlights the complex interplay of factors shaping the stock market’s direction.
As the market moves forward, analysts anticipate that developments in both domestic and international spheres will play a crucial role in determining investor confidence and influencing market trends. The Pakistan Stock Market remains dynamic, responding to a myriad of factors that contribute to its overall volatility.
