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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:
The Pakistan Stock Exchange (PSX) displayed positive sentiment in the first half of trading on Thursday, with the benchmark KSE-100 Index rising over 250 points to trade near the 167,700 level.
As of midday, the KSE-100 Index stood at 167,705.02, reflecting a gain of 253.89 points or 0.15% from the previous close of 167,451.13.
The Index touched an intraday high of 168,528.87 before experiencing some profit-taking that trimmed gains, while the low was recorded at 167,209.36.
Trading volume remained healthy with over 86.5 million shares exchanged, while the total value of trades reached approximately Rs5.58 billion.
Market participants appeared cautiously optimistic amid expectations of continued economic stability and potential positive triggers from upcoming corporate earnings and macroeconomic data.
The tensions between the US and Iran are also a major factor for the PSX. The early session saw selective buying in banking, fertilizer, and power sectors, though some profit-booking emerged in the later hours of the morning session.
Read: PSX erases gains as ME worries trigger selling
On Wednesday, Pakistan equities experienced a volatile session as early optimism gave way to selling pressure over geopolitical concerns.
The benchmark KSE-100 Index at the PSX opened on a positive note and displayed resilience during early trading, but it later turned bearish and directionless as investors remained cautious amid geopolitical uncertainty and elevated global oil prices.
Buying activity in select sectors was primarily driven by the State Bank’s announcement that it had received $1.3 billion from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF).
During the day, the KSE-100 touched the intra-day high of 169,687.29 points and low of 167,329.34. By the close of trading, it declined by 1,465.09 points, or 0.87%, to settle at 167,451.14.
Overall trading volumes dropped to 684.9 million shares versus Tuesday’s total of 1.02 billion. The value of shares traded during the day stood at Rs21.7 billion.
Shares of 483 companies were traded. Of these, 149 climbed, 298 fell and 36 remained unchanged.
Agha Steel Industries was the volume leader with trading in 58.7 million shares, gaining Rs0.43 to close at Rs8.70. Foreign investors sold shares worth Rs202.5 million, the National Clearing Company reported.
