Pakistan’s stock market resumed trading on April 26, 2023, after being closed for five days due to the Eid holidays.
The market saw a bullish trend as bulls dominated the stocks, with the benchmark KSE-100 index closing at 41,100 points, up from its last closing of 41,008 on April 20, 2023.
READ MORE: Post Eid holidays: stocks sentiments to be linked with materialization of IMF program
According to analysts at Arif Habib Limited, the PSX resumed trading with a bullish session after the extended Eid holidays. The benchmark KSE-100 index opened in the green, with bulls taking control and reaching an intraday high of 356.07 points. This rise was largely due to investors remaining hopeful about the release of the IMF’s Extended Fund Facility, with media reports indicating funding from friendly countries.
READ MORE: Pakistan stocks gain 508 points in impressive bull run
Investor activity increased significantly, with stronger volumes observed across the board. The 3rd tier equities led the volume board, while sectors that contributed to the performance included Commercial Banks, Inv. Banks / Inv. Cos. / Securities Cos., Technology & Communication, Food & Personal Care Products, and Refinery.
READ MORE: Pakistan equities rise by 51 points in mixed trading on PSX
Volumes increased by 7.5% to 186.9 million shares, while the average traded value rose by 1.0% to USD 20.4 million as compared to USD 20.19 million. Stocks that contributed significantly to the volumes included PRL, FFL, CNERGY, WTL, & MLCF.
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Overall, the bullish trend in Pakistan’s stock market on April 26, 2023, indicated a positive outlook among investors as the market resumed trading after the Eid holidays.
