Investors cherry-picked equities on Friday at the Pakistan Stock Exchange (PSX), as the key KSE-100 Index finished the week’s last session up 0.62 percent.
Investors have been preoccupied with ongoing political and economic unrest over the previous several days. However, on Friday, as the market dropped to its lowest point since November 2020, they were forced to buy equities at appealing values.
The KSE-100 index increased by 245.55 points or 0.62 percent to settle at 40,077.3 on Friday.
After a small jump to starting the day, the market fell as investors decided to liquidate their positions while keeping an eye on the deteriorating macroeconomic fundamentals.
At midday, the market hit an intraday low before edging slightly higher by the close of the first session. After the break, the index maintained its upward trend.
The index-heavy cement, chemical, fertilizer, and oil sectors closed higher, but selling pressure developed in the banking sector and resulted in significant names finishing the day in the red.
The benchmark KSE-100 index had a weekly loss of 4.75 percent.
According to a report from Capital Stake, the Pakistan Stock Exchange (PSX) concluded the final session of the week in the black after recovering from daytime losses.
The statement read, “Indices took a U-turn noon and concluded the day positively.”
According to a study from Arif Habib Limited, inflationary and political worries caused a negative trend in the market during the first session.
However, when the benchmark KSE-100 finished in the green, bulls made a comeback for value hunting across the board.
Despite reasonable volumes in third-tier stocks, main board volumes were sluggish.
To read our blog on “KSE-100 Index has experienced the largest decline in eight quarters,” click here.
Investors cherry-picked equities on Friday at the Pakistan Stock Exchange (PSX), as the key KSE-100 Index finished the week’s last session up 0.62 percent.
Investors have been preoccupied with ongoing political and economic unrest over the previous several days. However, on Friday, as the market dropped to its lowest point since November 2020, they were forced to buy equities at appealing values.
The KSE-100 index increased by 245.55 points or 0.62 percent to settle at 40,077.3 on Friday.
After a small jump to starting the day, the market fell as investors decided to liquidate their positions while keeping an eye on the deteriorating macroeconomic fundamentals.
At midday, the market hit an intraday low before edging slightly higher by the close of the first session. After the break, the index maintained its upward trend.
The index-heavy cement, chemical, fertilizer, and oil sectors closed higher, but selling pressure developed in the banking sector and resulted in significant names finishing the day in the red.
The benchmark KSE-100 index had a weekly loss of 4.75 percent.
According to a report from Capital Stake, the Pakistan Stock Exchange (PSX) concluded the final session of the week in the black after recovering from daytime losses.
The statement read, “Indices took a U-turn noon and concluded the day positively.”
According to a study from Arif Habib Limited, inflationary and political worries caused a negative trend in the market during the first session.
However, when the benchmark KSE-100 finished in the green, bulls made a comeback for value hunting across the board.
Despite reasonable volumes in third-tier stocks, main board volumes were sluggish.
To read our blog on “KSE-100 Index has experienced the largest decline in eight quarters,” click here.
