PSX Ends Up Week on Positive Note with 217.74 Points Gain

Karachi, June 9, 2023: The Pakistan Stock Exchange (PSX) concluded the week on a positive and optimistic note, with a notable gain of 217.74 points. Investors eagerly anticipated positive outcomes from the upcoming budget, leading to a strong and promising session.

The benchmark KSE-100 index closed at 41,904.20, indicating a significant increase of 217.74 points compared to the previous day’s closing of 41,686.

Analysts at Arif Habib highlighted that the market commenced on a positive trajectory and maintained a bullish sentiment throughout both trading sessions. Investors strategically selected stocks to bolster the value of their portfolios, resulting in a day of active trading.

The overall market performance was positive, with substantial trading volumes observed across various sectors, particularly in third-tier equities.

Several sectors made noteworthy contributions to the market’s performance. The Synthetic & Rayon sector led with a gain of 7.2 points, followed by the Cement sector with 3.6 points. The Chemical sector contributed 0.8 points, while the Inv. Banks / Inv. Cos. / Securities Cos. and Commercial Banks sectors added 0.6 and 0.5 points respectively.

Trading volumes experienced a decrease from 203.8 million shares to 164.8 million shares, representing a 19.1 per cent decline day-on-day (DoD). The average traded value also decreased by 11.2 per cent to USD 18.1 million compared to the previous value of USD 20.3 million.

Among the stocks that significantly contributed to the trading volumes were TPLP, UNITY, WTL, FABL, and HASCOL.