Karachi, September 25, 2023 – The Pakistan stock market saw a lackluster trading session on Monday, ending the day down by 27 points.
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 46,394 points, compared to the previous Friday’s closing figure of 46,421 points.
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Analysts at Topline Securities noted that the week began with Pakistani equities starting on a positive note but failing to sustain the momentum. As a result, the trading session concluded with the index at 46,394 points, representing a marginal decline of 27 points or 0.06 percent. Investors exhibited limited enthusiasm as they awaited positive triggers in the market.
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The index’s performance was influenced by various factors, with major positive contributions coming from ILP (Island Textile), LUCK (Lucky Cement), PSEL (Pak Suzuki Motors), OGDC (Oil and Gas Development Company), and TRG (TRG Pakistan). These stocks cumulatively contributed 78 points to the index. However, MTL (Mughal Iron & Steel Industries), HBL (Habib Bank Limited), and SYS (Sui Southern Gas Company) experienced losses, weighing down the index by -99 points.
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During the trading session, over 195 million shares were traded at the PSX, with a total value of Rs5.5 billion. PIAA (PIA Corporation) led the volumes chart, witnessing over 29 million shares changing hands.
The market’s performance reflects the cautious sentiment among investors, with trading activities waiting for positive triggers or developments to drive momentum. While the market experienced a slight dip on this particular day, it remains subject to fluctuations driven by various economic and geopolitical factors.
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