Karachi: The benchmark KSE-100 index closed with a slight increase on the last day of the trading week at the Pakistan Stock Exchange, but selling pressure remained significant in the overall market.
On Friday, the index rose by 233.55 points, or 0.14 percent, to 166,419.71 points. During the trading session, the index fell to a low of 165,956.51 points, while the high of the day was 166,708.36 points.
According to Pakistan Stock Exchange data, about 396.9 million shares were traded in the ready market. About 517.6 million shares were traded in the previous session. Thus, a significant decrease in trading volume was recorded. On Friday, the value of share transactions was more than Rs 18 billion 67 crore, while it was about Rs 23 billion 57 crore yesterday.
The price trend in the market was also not uniform. Shares of 211 companies rose, while the prices of 254 companies decreased. Shares of another 33 companies remained at the previous level. This shows that the increase in the benchmark index does not reflect widespread buying in the entire market.
Pakistan Refinery, Synergeco Pakistan and K-Electric were among the prominent shares in terms of trading volume. On the other hand, the total market capitalisation increased by about Rs 4 billion to Rs 18.479 trillion.
Despite the daily boom, trading volume and broader stock performance are important indicators for investors. A slight increase in the index is certainly positive, but low trading activity and a large number of companies facing declines indicate a cautious attitude in the market. The buying trend and trading volume in the coming business week will provide a better indication of the market direction.
