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A man takes a photo of the electronic board at the Pakistan Stock Exchange, in Karachi November 28, 2023. — Reuters
#Stocks #close #flat #cautious #activity
KARACHI: The Pakistan Stock Exchange (PSX) ended the last day of the week’s flat with a slightly positive closure, as investors preferred cautious activity despite previous benefits in the session.
The benchmark KSE-100 Index closed at 20.65 points, or 0.02 percent, at 120,023.24 points, more than 120,002.59 points listed in the final session. The highest index of the day was 120,828.86 points, while the lowest level was recorded at 119,872.16 points.
“After delaying the decision on US involvement in the Israeli -Iran conflict, the White House showed the recovery of stocks to avoid fear of the White House,” said Arif Habib Corporation analyst Ahsan Mahani.
He said that investors, led by the Blue Chip Oil Scripts, led by investors, have weighed the official consideration of 1.275 trillion bank loans of the federal cabinet under the Circular Debit Management Plan and the privatization of the SOE.
The KSE -30 index increased by 91.5 points or 0.25 percent to 36,441.73 points to 36,533.23 points.
The traded shares fell by 183 million shares to 421.643 million shares to 421.643 million shares from 604.536 million shares. The commercial value was reduced to Rs 15.651 billion to Rs 20.442 billion. The market capitalization increases from Rs 14.536 trillion to Rs 14.523 trillion. Of the 468 companies operating in the session, 178 green, 245 red and 45 changed.
Topline Securities analyst Nabil Aaron said the KSE -100 Index has traded in a positive zone for most of the trade meetings about the news that the Trump administration has decided to use the ban and will decide on the US -Iran conflict within two weeks.
However, due to lack of confidence around the dispute, the KSE -100 index came down to close on a flat note during the last hours of the trade.
The highest positive contributions to the index were from Hub C, Cis, UBL, OGDC, MLCF and PPL, as they supported +168 points. However, high -negative contributions to the index come from PKGP, TRG, FFC, PSEL, EFRT and MCB, as they supported -180 points.
Traded Voice Way TRG (Rs 1.5 Billion), PSO (RS 885 million), MLCF (Rs. 589 million), OGDC (Rs. 574 million) and Hub C (Rs.
The highest increase was recorded at Mitchez International Limited, which increased to Rs 56.53 to Rs 6621.82, after which Hochast Pakistan Limited, which increased to Rs 47.74. A significant reduction was noted in PIA Holding Company Limited B, which reduced by Rs 1,239.31 to Rs.
JS Global analyst Mubashir Anis Navy said the market started the session on a weak note, which is cautious throughout the day. With limited activity on the central board, the skin was slow. However, the positive advantage was that the index managed to close above the psychological 120,000 mark.
He advised that “we advise investors to keep a cautious stance, focusing on risk management and election purchase.”
World Calle Telecom remained a volume leader with 42.791 million shares, which closed at Rs 1.45 per share, less than 4 bucks. TRG Pak Limited, with 26.664 million shares, followed it, which closed from Rs 5.12 to Rs 5.68 per share.
The other important business includes Pervaiz Ahmed Company, Yusuf Bani, K Electric Limited, SUI South Gas, IST Capital SEC, Dewan Cement, Investment Bank, and Pak Refinery.
In the futures market, 316 companies recorded trading, of which 108 increased, 200 declined and 8 remained.
