PSX Remains Subdued Over Lack of Clarity Regarding IMF Review

The 100-Index of the Pakistan Stock Exchange (PSX) turned around to bullish trend on Tuesday, gaining 193.55 points, a positive change of 0.17 percent, closing at 116,633.17 points as compared to 116,439.62 points on the last trading day. Brokerage house Topline Securities highlighted that the market experienced a volatile session today, attempting to recover from yesterday’s sharp sell-off. The index initially showed strength, climbing 464 points at its intraday high as buying activity resurfaced. However, the momentum was short-lived, with profit-taking pushing the index down to an intraday low of 561 points. Despite the turbulence, the market managed to regain some ground, closing at 116,633. The brokerage house attributed this volatility to the lack of clarity regarding the IMF review and the SLA agreement, which has kept investor sentiment cautious. A total of 268,098,907 shares were traded during the day as compared to 311,970,520 shares the previous trading day, whereas the price of shares stood at Rs. 19.455 billion against Rs. 20.953 billion on the last trading day. As many as 436 companies transacted their shares in the stock market, 155 of them recorded gains and 214 sustained losses, whereas the share price of 67 companies remained unchanged. The three top trading companies were Pak Elektron with 23,534,658 shares at Rs. 45.90 per share, TRG Pak Limited with 22,825,615 shares at Rs. 66.14 per share and Cnergyico PK with 14,454,846 shares at Rs. 7.94 per share.