Karachi, July 7, 2023 – The Pakistan stock market closed on a flat note on Friday after a range-bound session. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) showed a marginal gain of 28 points, ending the day at 44,207 points compared to the previous day’s closing of 44,179 points.
According to analysts at Topline Securities, the market witnessed a range-bound session today following a bull run yesterday. Throughout the day, the index fluctuated between an intraday high of 28 points and an intraday low of -92 points before finally settling at 44,207 points, reflecting a modest increase of 0.06%.
The market’s performance was influenced by both positive and negative contributions from various stocks. TRG, POL, SYS, PSEL, and UNITY were among the major contributors to the index, collectively adding 143 points. Conversely, some stocks, including HUBC, ENGRO, OGDC, PPL, and MCB, experienced profit-taking, resulting in a decline of -91 points on the index.
The trading volume for the day stood at 245 million shares, with a total value of Rs8.5 billion. WTL emerged as the volume leader of the day, with 26 million shares traded.
Despite the overall flat performance, market participants remain cautiously optimistic about the future direction of the Pakistan stock market. Investors are closely monitoring various factors, including economic indicators, corporate earnings, and geopolitical developments, which may influence market sentiment in the coming sessions.
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