Overall trading volume decreased to 734.6 million compared with Tuesday’s tally of 1.06billion
Overall market participation was strong, as 1,066 million shares were traded with a total value of Rs. 49 billion. KEL led the volume chart, with 195.8 million shares..Photo: Express
KARACHI:
In a session marked by volatility and investor jitters, the Pakistan Stock Exchange (PSX) closed higher on Wednesday, with the benchmark index gaining 0.49%.
Trading remained choppy throughout the day as early pressure gave way to buying interest, pushing the market into positive territory, with late-session support helping the index maintain its gains by the close. Selective buying in cement, commercial banks, fertiliser, and oil and gas exploration companies underpinned the benchmark despite cautious investor sentiment.
The index touched a high of 183,801.71 and a low of 182,054.65 during the session. The KSE-100 Index advanced 896.25 points to settle at 183,049.81 after moving in a wide intra-day range.
Read: PSX modestly lower amid volatile trading
Topline Securities observed that KSE-100 index settled at 183,049 points, posting a gain of 896 points in a predominantly range-bound session. Throughout the day, the index moved within a band, touching an intra-day high of 183,801 points and a low of 182,052 points.
Support from major heavyweights such as Engro Holdings, Lucky Cement, Faysal Bank, MCB, and Bank Al Falah underpinned the market’s performance, jointly adding 920 points to the benchmark. In contrast, Bank AL Habib, Pakistan Petroleum, and United Bank weighed on the index, collectively trimming 311 points from the day’s gains, Topline said.
Ismail Iqbal Securities summerised in its report that benchmark index closed on a positive note after an initial dip at the start of the session. Trading activity remained largely stock specific in the absence of any strong positive trigger, as investors positioned themselves ahead of the ongoing results season. Trading volumes decreased to 350 million shares as compared to 636million shares in the previous session.
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Subsequently, the KSE-100 index gained 896 points to close at 183,050 level, up by 0.49% DoD. banks, cement, and power sectors were the major contributors in Wednesday’s session, cumulatively adding 619 points to the index, the brokerage house noted.
Overall trading volume decreased to 734.6 million compared with Tuesday’s tally of 1.06billion. The value of traded shares stood at Rs35.3billion, while shares of 477 companies were traded. Of these, 208 stocks closed higher, 223 fell and 46 remained unchanged.
K-Electric continued to lead the volume chart with trading in 120.7 million shares, falling Rs0.03 to close at Rs8.60.