On Thursday, the Pakistan Stock Exchange (PSX) observed a slight downturn, with the KSE100 Index losing 53.53 points on Thursday (March, reflecting a marginal decrease of 0.08 per cent. It concluded at 65,603.09 points, compared to the previous trading day’s close of 65,656.62 points.
Analysts from Topline Securities Limited have observed increased volatility in the market, citing a mix of factors influencing market sentiment. Despite these fluctuations, the market has shown resilience in the face of uncertainties, reflecting investors’ ability to navigate through the complexities of the current economic landscape.
On the political front, the recently elected Prime Minister, Shehbaz Sharif, has taken swift action to address the country’s challenges. He has pledged tireless dedication to resolving the crisis, with expectations that his cabinet members’ names will be finalized within the next 48 hours. These political developments have added an additional layer of influence on market dynamics, as investors closely monitor potential impacts on economic policies.
The day’s trading activity saw a total of 354,153,110 shares exchanged, valued at Rs14.435 billion, which was lower than the previous day’s volume of 419,737,124 shares valued at Rs18.296 billion.
Among the 354 companies participating in the stock market, 145 recorded gains while 187 sustained losses, with the share prices of 22 remaining unchanged. Noteworthy among the top three trading companies were Pak Elecktron, Telecaard Limited, and PIAC(A), with significant shares traded at various prices.
Unilever Pakistan Foods Limited witnessed the most substantial increase in share price, gaining Rs400.00 to close at Rs21,900.00 per share. Following closely was Rafhan Maize Products Company Limited, which experienced a rise of Rs111.12, closing at Rs9,000.00 per share. Conversely, Nestle Pakistan Limited saw the most significant decrease, losing Rs310.00 per share to close at Rs7,890.00, followed by Mehmood Textile Mills Limited, which witnessed a decline of Rs22.50 to close at Rs378.50 per share.