Karachi: Pakistan Stock Exchange (PSX) KSE-100 index saw positive session and KSE-100 Index rose 0.5 percent as investors remained optimistic of staff-level agreement between Pakistan and International Monetary Fund (IMF) for disbursement of next tranche. At close, KSE-100 Index settled at 40,448.05, an increase of 201.38 points.

Trading began positively but selling pressure gripped market and it fell until noon. From midday onward, renewed buying activity emerged and market closed with gain. PSX ends another session flat as KSE-100 ‘remains mostly directionless’ Automobile, oil and banking sectors closed in green while cement space remained mixed.

Sectors painting benchmark KSE-100 Index in green included fertiliser (86.97 points), banking (69.69 points) and power generation and distribution (22.45 points). Volume on all-share index fell to 67.5 million from 94.8 million on Monday while value of shares traded dropped to Rs 2.28 billion from Rs 3.05 billion recorded in previous session.

K-Electric was volume leader with 3.5 million shares followed by WorldCall Telecom with 3.3 million shares and Hascol with 2.8 million shares. Shares of 306 companies were traded on Tuesday of which 156 registered an increase, 130 recorded fall and 20 remained unchanged.

Report from Arif Habib Limited stated, “Market opened in green and continued to trade in same zone, with index reaching an intraday high of 237.62 points”. 3rd tier companies topping volume board.”

Report from Capital Stake stated that bulls took charge of PSX. Indices swayed in both directions, while volumes shrunk from last close, it said.

Published in The Daily National Courier, April, 19 2023

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