Karachi, June 2, 2023 – Pakistan’s stock market witnessed a mixed trading session on Friday, with the benchmark KSE-100 index gaining 86 points. The index closed at 41,353 points, showing a slight improvement from the previous day’s closing of 41,267 points.
Analysts from Arif Habib Limited observed that the Pakistan Stock Exchange (PSX) concluded the week with another session characterized by mixed sentiments. The country’s uncertain political and economic conditions contributed to a range-bound trading session, prompting investors to exercise caution and engage in sideways activity.
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While overall trading volumes remained relatively flat, the cement sector attracted significant attention following a notable surge in cement dispatch numbers. This surge contributed positively to the market’s performance.
Various sectors played a role in driving the market’s performance. Notable contributors included Commercial Banks (+59.5 points), Cements (+32.9 points), Inv. Bank/Securities (+16.9 points), Chemicals (+14.9 points), and Power (+14.4 points).
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The trading volumes experienced a marginal decline, with the number of shares decreasing from 99.7 million to 99.5 million (-0.2 percent DoD). However, the average traded value increased by 16.5 percent, reaching USD 11.7 million compared to the previous day’s USD 10.0 million.
Among the stocks that witnessed significant trading volumes were PIBTL, WTL, DGKC, MLCF, and BAFL. These stocks attracted the attention of market participants and contributed to the overall trading activity.
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Overall, Pakistan’s stock market experienced a mixed session, with cautious trading and a range-bound market due to the prevailing political and economic uncertainties. However, the surge in the cement sector provided a boost to the market’s performance, leading to a slight gain of 86 points in the benchmark KSE-100 index.
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Disclaimer: This news report is based on the information available at the time of writing and should be taken as a general overview of the market’s performance. Investors are advised to conduct thorough research and consult with financial professionals before making any investment decisions.
