Pakistan stocks experience 65-point decline in mixed trading session

Pakistan stocks experience 65-point decline in mixed trading session

Karachi, May 26, 2023 – Pakistan stocks closed lower by 65 points on Friday after a mixed trading session throughout the day.

The Pakistan Stock Exchange (PSX) witnessed a decline in the benchmark KSE-100 index, which concluded at 40,965 points, down from the previous day’s closing of 41,030 points.

READ MORE: Pakistan stock market experiences volatile session, drops 87 points

Market analysts from Arif Habib Limited observed that the PSX commenced with a lackluster session, as investor participation remained subdued due to the ongoing political turmoil in the country.

However, following the mid-session break, investor activity surged significantly, causing the bears to dominate the KSE-100 index, resulting in a decline of 246 points during intraday trading.

During the final trading hour, investors opted to enhance the value of their portfolios by selectively investing in stocks.

READ MORE: Pakistan stocks experience modest growth amidst profit-taking

Trading volumes notably increased from the previous close, driven by the end of the rollover week, with the cement sector garnering significant attention.

Several sectors contributed to the overall market performance, with Technology & Communication (-73.4 points), Exploration & Production (-56.3 points), Commercial Banks (-41.7 points), Oil Marketing Companies (-31.4 points), and Pharmaceuticals (-14.3 points) experiencing a decline.

READ MORE: Pakistan stocks extend losses; end down by 96 points

The volume of shares traded rose from 125.3 million shares to 168.5 million shares (representing a 34.4 percent day-on-day increase). Moreover, the average traded value witnessed a substantial surge of 67.3 percent, reaching USD 23.8 million compared to the previous value of USD 14.1 million.

Prominent stocks that contributed significantly to the trading volumes included WTL, MLCF, NBP, KEL, and TPLP.

READ MORE: Pakistan stocks decline by 404.12 points amid political uncertainties

Overall, the Pakistan stock market witnessed a decline in the KSE-100 index amid mixed trading sessions and increased investor activity, impacted by the ongoing political situation.

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