Karachi: Pakistan Stock Exchange (PSX) KSE-100 index saw roller-coaster trading session and KSE-100 Index closed flat after volatile ride. Mixture of upside and downside pressures sparked mixed trading in market. By end of session, KSE-100 Index was up 5.87 points or 0.01 percent to close at 42,093.8 points.

Trading began with jump and market hit intra-day high at noon. From this point onward, market began its descent and fell for rest of session to close unchanged.

Automobile, cement, chemical and oil spaces saw massive selling while banking space closed with gains.

Sectors contributing positively to benchmark KSE-100 index included technology and communication sector (51.18 points), banking sector (46.24 points) and food and personal care products sector (39.11 points). Volume on all-share index fell to 255.3 million from 289.8 million on Wednesday while value of shares traded dropped to Rs 9.3 billion from Rs 10.2 billion recorded in previous session.

Maple Leaf Cement was volume leader with 23.4 million shares followed by Fauji Foods with 17.1 million shares and WorldCall Telecom with 13.6 million shares. Shares of 359 companies were traded on Thursday of which 160 registered an increase, 177 recorded fall and 22 remained unchanged.

Report from Arif Habib Limited stated, “KSE-100 index opened in green zone and continued to trade with positive sentiments throughout trading session, reaching an intraday high of 248.41 points as investors opted to cherry pick strong fundamental stocks given attractive valuation being offered in market.”

Published in The Daily National Courier, May, 05 2023

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