Karachi, September 14, 2023 – The Pakistan stock market experienced a modest gain of 59 points on Thursday during a relatively narrow trading session.
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 45,650 points, up from the previous day’s closing figure of 45,591 points.
Market analysts from Topline Securities noted that the trading session was marked by cautious investor sentiment as market participants closely monitored the outcome of the Monetary Policy Committee (MPC) meeting scheduled for the day. The prevailing market consensus suggested an anticipated increase in interest rates, ranging between 100 to 150 basis points (BPS) during the MPC meeting.
Banks and auto stocks, including DAWH, HMB, BAHL, PSEL, and MTL, made positive contributions to the market, collectively adding 68 points. However, the stocks of PAKT, NESTLE, and PKGS collectively lost 31 points during the trading session.
In terms of trading volumes, KEL emerged as the most actively traded stock of the day, with 18 million shares changing hands. Overall, the market witnessed a total trading volume of 135 million shares with a total value of Rs 2.7 billion.
The cautious trading activity reflects the uncertainty prevailing in the market due to the upcoming MPC decision on interest rates. Investors are closely watching the central bank’s move as it can significantly impact various sectors of the economy and influence investor sentiment in the stock market.
As investors continue to evaluate market conditions and respond to economic developments, the Pakistan stock market remains a dynamic and closely-watched component of the country’s financial landscape.