Karachi, September 8, 2023 – The Pakistan stock market experienced a positive uptick on Friday, with the benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) gaining 256 points.
However, this rally occurred against a backdrop of reduced investor participation, resulting in thin trading volumes.
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The KSE-100 index closed at 46,013 points, marking an increase from the previous day’s closing level of 45,757 points. Analysts from Zafar Securities noted that following a minor decline of 50 points in the previous trading session, the index rebounded with a robust 256-point rally on Friday. Despite the positive performance, market participation remained subdued.
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Total market participation declined by 17.16 percent, with 183.7 million shares traded, valued at Rs 7.3 billion. This was in contrast to the previous day when 221.7 million shares were traded, valued at Rs 10.4 billion.
After experiencing four consecutive weeks of losses, the benchmark index managed to post a 2.2 percent gain for the outgoing week on a net week-on-week basis.
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Of the 311 actively traded stocks on Friday, 176 advanced, 108 declined, and 27 remained unchanged. Notable trading activity was observed in stocks such as TPLP, WTL, BAFL, PIAA, and PPL, with trading volumes of 11.9 million, 11 million, 9.2 million, and 7.2 million shares, respectively.
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The Pakistan stock market’s performance continues to be closely monitored by investors and analysts as it navigates through changing market dynamics, investor sentiment, and economic conditions. The recent positive momentum, albeit with lower participation, suggests a degree of resilience in the market despite external and internal challenges.
