Karachi: The Pakistan Stock Exchange ended trading on Thursday with a slight increase. The benchmark KSE-100 Index closed at 174,929.69 points after gaining 153.09 points.
The market remained volatile during the trading session. The KSE-100 Index opened positive at the beginning of the day and at one point reached a high of 175,796.25 points. Later, the index fell below its highest level due to selling pressure.
The index recorded its lowest level during the trading session at 174,893.68 points. Thus, the index remained in the range of about 902 points during the day.
According to market sources, the news of Pakistan raising $3 billion in funding from the global debt market boosted investor confidence at the start of trading. The development was seen as a positive sign that the country is meeting its external financing needs.
However, the ongoing tensions in the Middle East remain a major concern for investors. Global geopolitical uncertainty is weighing on the market sentiment, leading to investors avoiding new investments to a large extent.
ENGROH, LUCK, NBP, HBL and MLCF stocks played a major role in the rise in the KSE-100 index. ENGROH supported the index the most, while LUCK was also among the stocks that contributed significantly.
On the other hand, BAHL, UBL, PPL, SRVI and ATRL stocks had a negative impact on the index. The selling trend in these companies limited the overall market rally.
A total of 627.4 million shares were traded in the stock market. The total value of these transactions was around Rs 25.19 billion.
At the close of business, the total market capitalisation reached around Rs 19,586 billion, an increase of around Rs 5 billion compared to the previous session.
The current market trend indicates that investors are viewing the local economic developments positively; however, a cautious strategy remains in place due to global conditions. External financing, global oil prices and the situation in the Middle East will remain important factors influencing the market direction in the coming trading sessions.
