Friday, the Pakistan Stock Exchange (PSX) experienced a slight slowdown, the KSE-100 index lowering 327.60 points, or 0.28%, to end at 118,442.17.
The index reached a summit of 119,405.91 and a minimum of 118,334.40 during the negotiation session.
The negotiation volume amounted to 172.2 million shares, with a total value of Rs 14.91 billion. Despite the drop, the market remains relatively active, the key sectors continue to show resilience.
The market closed lower than the fence of 118,769.77 points of the day before, which reflects a certain caution among investors in the midst of global uncertainty.
The negative fence indeed ended the six -day rally on the stock market.
During the day, the KSE-100 index jumped nearly 600 points in the first hours of negotiation. The index had reached 119,361.22, marking a gain of 591.45 points, or 0.5%.
The positive feeling was motivated by the purchase of activities in the key sectors, in particular commercial banks, oil and gas exploration companies, oil marketing companies (WTO) and electricity production. Major actions such as SSGC, WAFI, Mari, OGDC, PPL, HBL, NBP and UBL have seen a movement up.
The stock market rally comes in the midst of optimism surrounding an imminent agreement in the staff level (SLA) with the International Monetary Fund (IMF), which is considered a key stage in the stabilization of the Pakistan economy.
The Governor of the State Bank of Pakistan (SBP), Jameel Ahmed, expressed the hope that the AL would be signed soon, although it has not provided a specific calendar.
The market also closely monitored government efforts to resolve the circular debt of the energy sector, which, if it was plated, would improve cash flows for companies in this sector.
On Thursday, the Pakistan Stock Exchange (PSX) continued its momentum on Thursday, the KSE-100 index exceeding the 119,000 mark during the intra-day trading, reaching a record.
The index won nearly 800 points, ending at 118,769.77, marking its sixth day of consecutive winnings.
The wave was motivated by optimism concerning the economic policies of Pakistan, in particular the second planned loan tranche of the International Monetary Fund (IMF), the reductions in electricity prices, tax relaxations and the potential resolution of the circular debt.
Prime Minister Shehbaz Sharif welcomed the record market performance, attributing it to the growing confidence of investors in the government’s economic agenda.
Investors have also been supported by the expectations of the IMF personnel agreement and efforts to settle the circular debt, which could improve business cash flows in emerging sectors.
The market was particularly active due to solid purchases of local common funds, which contributed to an increase in key sectors such as oil, gas and technology. Mari Petroleum experienced significant commercial value due to the speculation of investors before his meeting of the Board of Directors.
Despite the positive momentum, foreign investors have sold actions worth 720.8 million rupees. The global trading volume of the market has reached 667.9 million shares, with sectors such as technology, oil and gas, fertilizers and refineries leading to gains. Analysts advised caution and recommended to reserve profits at higher levels while focusing on the sectors with strong perspectives.
