Pakistan Stocks Witness Lackluster Trading Activity, Decline by 145 Points

Karachi, June 15, 2023: The Pakistan stock market experienced a lackluster trading session on Thursday, resulting in a decline of 145 points.

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 41,369 points, down from the previous day’s closing of 41,514 points.

According to analysts at Arif Habib Limited, the PSX recorded a mixed session during the day. Throughout the trading session, the market witnessed subdued activity as investors chose to book profits, ultimately causing the index to end in the red with a net loss of 145.28 points. Investor participation remained stagnant, with third-tier stocks continuing to dominate the volume board.

Various sectors contributed to the market’s performance, with the Fertilizer sector witnessing a decline of 59.0 points, followed by E&P’s (-42.6 points), Cement (-31.2 points), Inv. Banks / Inv. Cos. / Securities Cos. (-15.4 points), and Power Generation & Distribution (-9.8 points).

The trading volume experienced a decrease from 179.6 million shares to 149.7 million shares, reflecting a 16.7 percent decline compared to the previous day. Similarly, the average traded value decreased by 4.2 percent to USD 12.5 million, as opposed to the previous value of USD 13.1 million.

Among the stocks that significantly contributed to the trading volume were TPLP, WTL, BIPL, PACE, and HASCOL.