Thursday, August 11, 2022

Pakistan’s equity market closed slightly higher amid mixed sentiments


Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

KARACHI: KSE-100 index of Pakistan Stock Exchange (PSX) ended slightly higher amid mixed trading sentiments on Friday.

The index closed at 37,547 points as against 37,542 points showing an increase of five points. Analysts at Arif Habib Limited said that market moved in the positive direction amidst thin volumes.

E&P sector played well on the back of higher international crude oil prices. OGDC, PPL and POL increased however, volumes remained thin due to overall market sentiment and selling pressure from institutions.

Past day’s trading flow indicated Insurance sector taking negative bet on E&P sector.

Habib Bank Limited performed better than United Bank Limited and showed price gain, however, the gain remained muted.

Volumes were seen in technology sector, followed by Cement and Chemical sectors.

Sectors contributing to the performance include banks (+74 points), Cement (+12 points), Insurance (+12 points), Power (-23 points), Food (-13 points).

Share volumes remained muted showing a meager decline of 5 percent DoD to reach 64.1 million shares as against 67.9 million shares.

Average traded value also declined by 7 percent DoD to reach $22.7 million as against $ 24.3 million.

Scrips that contributed significantly to the volumes include PEAL, TRG, KOIL, HUMNL and DCL, which formed 26 percent of total volumes.

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