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Friday, March 29, 2024  
18 Ramadan 1445  

Volatile trading at the Pakistan Stock Exchange

Volatile trading at the Pakistan Stock Exchange led to a negative close. The KSE100 index lost 94 points to settle at 48,633.

Volatile trading at the Pakistan Stock Exchange led to a negative close. The KSE100 index lost 94 points to settle at 48,633.

The exchange saw healthy volumes however the absence of triggers caused a negative close. Trading remained largely rangebound with the day’s high and low spread remaining under 300 points. All share volume further gained 1% from the previous day reaching 1,225m.

The Oil & Exploration industry can be expected to guide the local bourse in the coming days. Finance Minister Shaukat Tarin has indicated that an increase in levy on petroleum products can be put into place in the coming days. The sector is also considered an index heavy weight.

World shares continued to post record highs with European stocks on track for their longest streak since 2019. Most global markets are of the view that the U.S. Federal Reserve will continue their stimulus package encouraging a rebound in the world economy.

At the closing bell 131 companies had advanced with 223 closing in the red. 24 scrips remained unchanged.

Market participation for the KSE100 Index increased to PKR 699m from PKR 507m (38% on d/d basis). Major contribution to total market volume came from KEL, WTL and BYCO combined for 590m shares out of the total market volume of 1,225m shares.

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PSX

Stock Exchange

stock market

KSE100 index

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