The Pakistan Stock Exchange (PSX) closed marginally higher Tuesday while it entered a consolidation phase, the KSE-100 reference index winning 75.48 points, or 0.05%, to settle at 147,005.32.
Analysts noted that investors have adopted a cautious position in the midst of mixed feelings, selective purchasing and profit. Trading volumes recorded an increase, supported by gains in banking actions, while the weakness of the fertilizer and energy sectors has capped overall gains.
ARIF HABIB Limited (AHL), deputy trading chief, Ali Najib, said that the KSE-100 index was floating in both directions during the session before closing slightly positive, maintaining the key level of 147,000.
“A mixed feeling was observed during the hours of negotiation, investors opting for a change and a profit,” he said.
In terms of news, Pakistan and US officials finalized the details of a trade agreement, while the Minister of Finance Muhammad Aurangzeb alluded to the main American investments in various sectors. Meanwhile, Barrick Mining asked for $ 3.5 billion from world lenders, including institutions supported by the United States, for the development of the Reko Diq Copper and Gold project.
Among the individual movers, Bank Alfalah, HBL, Systems Limited, Meezan Bank and National Foods added 417 points to the index on the purchase of interest. Conversely, Fauji Garilizer Company, Mari Petroleum, Company Oil and Gas Development Company, Pakistan State Oil and Bank Al Habib has collectively lost 527 points.
“In the future, progress on the resolution of the circular debt could further supply the increase in the increase. That said, a consolidation or a slight correction is possible.
Overall, negotiation volumes reached 691.7 million shares compared to 611.2 million on Monday, while the negotiated value increased to 44.6 billion rupees, against 44 billion rupees in the previous session.
The actions of 482 companies have been negotiated. Among these, 208 closed above, 242 decreased and 32 remained unchanged. Yousuf Weaving Mills was the volume leader with 46.3 million shares, increasing from RS1 to close to Rs6.09.
